Larkspur Games Inc. adjusts its accounts annually. The following information is available for the year ended...

  
 

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Larkspur Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2025. 1. 2. 3. 4. 5. Purchased a 1-year insurance policy on June 1 for $1,620 cash. Paid $5,720 on August 31 for 5 months' rent in advance. On September 4, received $3,240 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students a local school. Signed a contract for cleaning services starting December 1 for $880 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,320 in advance from a gaming club. Determined that on December 31, $420 of these games had not yet been played. Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) (Post entries in the order presented in the previous parts.) June 1 Sept. 4 Aug. 31 Sept. 4 Dec. 31 Adj. Dec. 31 Adj. Nov. 30 Dec. 5 Dec. 31 Adj. Dec. 31 Bal. Dec. 31 Adj. Dec. 31 Bal. v ✓ Prepaid Insurance 1620 5720 Prepaid Rent 1440 Dec. 31 Adj. Dec. 31 Bal. 880 Unearned Service Revenue Dec. 31 Adj. Dec. 31 Adi. 4576 Sept. 4 Dec. 5 Prepaid Cleaning Dec. 31 Bal. Dec. 31 Adj. Insurance Expense Rent Expense Dec. 31 Bal. V Dec. 31 Adi. Service Revenue V Dec. 31 Adj. ✓ V 945 675 4576 1440 900 1440 Dec. 31 Adj. Dec. 31 Adj. Nov. 30 Dec. 5 Dec. 31 Adj. V Dec. 31 Bal. v Dec. 31 Adj. Dec. 31 Bal. Dec. 31 Adj. Dec. 31 Bal. Unearned Service Revenue 1440 880 Sept. 4 Dec. 5 Prepaid Cleaning Dec. 31 Bal. 4576 Dec. 31 Adj. Dec. 31 Bal. Insurance Expense Rent Expense Dec. 31 Adi. Service Revenue Dec. 31 Adj. Dec. 31 Adj. Dec. 31 Bal. Maintenance and Repairs Expense 1440 900 1440 Larkspur Games Inc. adjusts its accounts annually. The following information is available for the year ended December 31, 2025. 1. 2. 3. 4. 5. Purchased a 1-year insurance policy on June 1 for $1,620 cash. Paid $5,720 on August 31 for 5 months' rent in advance. On September 4, received $3,240 cash in advance from a corporation to sponsor a game each month for a total of 9 months for the most improved students a local school. Signed a contract for cleaning services starting December 1 for $880 per month. Paid for the first 2 months on November 30. (Hint: Use the account Prepaid Cleaning to record prepayments.) On December 5, received $1,320 in advance from a gaming club. Determined that on December 31, $420 of these games had not yet been played. Post the journal entries in parts (a) and (b) to T-accounts and determine the final balance in each account balance. (Note: Posting to the Cash account is not required.) (Post entries in the order presented in the previous parts.) June 1 Sept. 4 Aug. 31 Sept. 4 Dec. 31 Adj. Dec. 31 Adj. Nov. 30 Dec. 5 Dec. 31 Adj. Dec. 31 Bal. Dec. 31 Adj. Dec. 31 Bal. v ✓ Prepaid Insurance 1620 5720 Prepaid Rent 1440 Dec. 31 Adj. Dec. 31 Bal. 880 Unearned Service Revenue Dec. 31 Adj. Dec. 31 Adi. 4576 Sept. 4 Dec. 5 Prepaid Cleaning Dec. 31 Bal. Dec. 31 Adj. Insurance Expense Rent Expense Dec. 31 Bal. V Dec. 31 Adi. Service Revenue V Dec. 31 Adj. ✓ V 945 675 4576 1440 900 1440 Dec. 31 Adj. Dec. 31 Adj. Nov. 30 Dec. 5 Dec. 31 Adj. V Dec. 31 Bal. v Dec. 31 Adj. Dec. 31 Bal. Dec. 31 Adj. Dec. 31 Bal. Unearned Service Revenue 1440 880 Sept. 4 Dec. 5 Prepaid Cleaning Dec. 31 Bal. 4576 Dec. 31 Adj. Dec. 31 Bal. Insurance Expense Rent Expense Dec. 31 Adi. Service Revenue Dec. 31 Adj. Dec. 31 Adj. Dec. 31 Bal. Maintenance and Repairs Expense 1440 900 1440

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