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Nebraska Inc. issues 2,150 shares of common stock for $68,800. The stock has a stated value of $10 per share. The journal entry to record the stock issuance would include a credit to Common Stock for Ca. $21,500 b. $47,300 c. $2,150 d. $68,800 The balance in the prepaid rent account before adjustment at the end of the year is $11,808, which represents 12 months' rent paid on December 1. The adjusting entry required on December 31 is a. debit Prepaid Rent, $10,824, credit Rent Expense, $984 b. debit Rent Expense, $984, credit Prepaid Rent, $984 c. debit Rent Expense, $10,824, credit Prepaid Rent, $984 d. debit Prepaid Rent, $984, credit Rent Expense, $984 The Income Statement columns in the end-of-period spreadsheet show that debits are equal to $55,800 and credits are $77,520. What does this information mean to the accountant? a. net loss of $21,720 b. net income of $21,720 c. the accounts have not been updated d. the accounts are out of balance, indicating an error has been made