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Pharoah Games Inc. adjusts its accounts annually. The following information is available for the year ended December 3 1 , 2 0 2 2 .
Pharoah Games Inc. adjusts its accounts annually. The following information is available for the year ended December
Purchased a year insurance policy on June for $ cash.
Paid $ on August for months' rent in advance.
On September received $ cash in advance from a corporation to sponsor a game each month for a total of months for the most improved students at a local school.
Signed a contract for cleaning services starting December for $ per month. Paid for the first months on November Hint: Use the account Prepaid Cleaning to record prepayments.
On December received $ in advance from a gaming club. Determined that on December $ of these games had not yet been played.
a
Record each of the above transactions in the tabular summary that follows. If a transaction results in a decrease in Assets, Liabilities or Stockholders' Equity, place a negative sign or parentheses in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.
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