Sandhill Games Inc. adjust it accounts annually. The following information is available for the year ended December 31, 2022.
1. 2. 3. Sandhill Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2022. Purchased a 1-year insurance policy on June 1 for $2,160 cash. Paid $7,800 on August 31 for 5 months' rent in advance. On September 4, received $4,320 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students at a local school. Signed a contract for cleaning services starting December 1 for $1,200 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) 5. On December 5, received $1,800 in advance from a gaming club. Determined that on December 31, $580 of these games had not yet been played. 4. (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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Assets 2022 Cash Prepd. Insur. + Prepd. Rent Prepd. Clean. June 1 Aug. 31 Sept. 4 Nov. 30 Dec. 5 (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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Stockhol Prepd. Clean. Liabilities Unearned Serv. Rev. Com Stock Rev. (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 for parentheses) in front of the amount entered for the particular Asset, Liability or Equity item that was reduced.) Com. Stock Stockholders' Equity Retained Earnings Exp. Rev. Div