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Hank's Tax Planning Service Started Business in January,2012

Question 21

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Hank's Tax Planning Service started business in January,2012.He rented an office for $900 a month starting January 1.He prepaid the rentals through June 30.He makes accrual adjustments monthly.As of April 30,Hank's ledger shows a balance in Prepaid Rent of how much?
A) $1,800
B) $900
C) $2,700
D) $5,400

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A) Calculations: $9...

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