The ledger of Carla Vista Rental Agency on March $31$ of the current year includes the following selected accounts before adjusting entries have been prepared.

$($a$)$

$($b$)$

Your Answer

Correct Answer

Compute the ending balances for Prepaid Insurance, Unearned Rent Revenue, and Rent Revenue. Indicate in which financial statement those items will be reported.

$\backslash$table$[[$Ending Balance,$],[$Prepaid Insurance,$],[$Unearned Rent Revenue,$],[$Rent Revenue,$]]$