On june 1 norma company signed a 12 month lease for

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11 On June 1, Norma Company signed a 12-month lease for warehouse space. The lease requires monthly rent of $550, with 4 months paid in advance. Norma Company records the payment by debiting Prepaid Rent $2,200 and crediting Cash $2,200. At the end of June, what should be the balance of Norma's Prepaid Rent account?
12 Videobusters, Inc. offered books of video rental coupons to its patrons at $40 per book. Each book contained a certain number of coupons for video rentals. During the current period 500 books were sold for $20,000, and this amount was credited to Unearned Rental Revenue. At the end of the period, it was determined that $15,000 worth of coupons had been used by customers to rent videos. The appropriate adjusting entry at the end of the period would be:
13 The normal balance of the Accumulated Depreciation account is:
14 Tuna Co. purchased a building in 2015 for $650,000 and debited an asset called "Buildings" for the entire amount. The company never depreciated the building although it had a useful life of 15 years. At the end of 2015, this action will cause:
15 adjusting entries are needed:
16 Which statement is true about land?
18 Which of the following statements concerning materiality is true?
19 An adjusting entry involving recognition of accrued revenue is necessary at the end of March in which of the following situations?
20 The adjusting entry to record interest that has accrued on a note payable to the bank will cause an immediate:

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