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FINANCIAL ACCOUNTING ASSIGNMENT
Exercise 2-15A on page 110
Exercise 2-19A on page 111
Exercise 2-27A on page 113
Exercise 2-29A on page 114
Exercise 2-30A on page 114
a. Calculation of used rent amount.
Prepaid rent = $18,000
Number of months completed is 11 months.
Used rent amount =
No.of months completed
$16,500 …………. equation I
Preparation of work sheet.
effect of events on
Used rent (from
b. Calculation of net income
“L” Industry income
statement for the year
ended December 31, 2016.
Revenues recognized on
Preparation of “L” industry balance sheet
As of December 31, 2016.
Total Liability and Stockholder...
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