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    Hype Hospital: cash to accrual analyze prepaid & accrued

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    See attachment.

    Hype Hospital provides u with the following info:
    10/31/x1 11/30/x1
    prepaid rent expense $1,000 $2,000
    accrued rent rec $3,000 $4,000
    deferred rental Income $5,000 $6,000
    accrued rent payable $7,000 $8,000

    Accrued Interest Rec $4,100 $3,900
    Prepaid Interest $6,400 $5,700
    Accrued Interest $3,200 $3,600
    Deferred Interest Income $4,800 $5,300

    During November, $40,000 of rent was paid and $50,000 of rent was received in cash. Also, Nov statement of operations reports $25,000 of interest income and $30,000 of interest expense.

    Required: What should the Nov 20X1 statement of operations report as rent expense and rental income? What was the amount of interest received in cash during Nov? What was the amount of interest paid in cash during Nov?

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    Your tutorial is attached. First you must match the accounts into sets (see ...

    Solution Summary

    The solution determines what the statement of operations report as rent expense and rental outcome. See the attached Excel file for the response.