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9/5/2017 Assignment Print View ; 2/3 7. Award: 5.00 points The Righter Shoe Store Company prepares monthly financial statements for its bank. The November 30 and December 31, 2018, trial balances contained the following account information: Nov. 30 Dec. 31 Dr. Cr. Dr. Cr. Supplies 1,500 3,000 Prepaid insurance 6,000 4,500 Salaries and wages payable 10,000 15,000 Deferred rent revenue 2,000 1,000 The following information also is known: a. The December income statement reported $2,000 in supplies expense. b. No insurance payments were made in December. c. $10,000 was paid to employees during December for salaries and wages. d. On November 1, 2018, a tenant paid Righter $3,000 in advance rent for the period November through January. Deferred rent revenue was credited. Required: 1. Using the above information for December, complete the T­accounts below. The beginning balances should be the balances as of November 30.
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