Financial accounting 16th Edition by Jan Williams,Susan Haka,Mark Bettner ,Joseph Carcello

Exercise 44

Ski West adjusts its accounts at the end of each month but closes them only at the end of the calendar year (December 31).he ending balances in the Equipment Rental Revenue account and the Cash account in February and March appear below.

Ski West prepares financial statements showing separately the operating results of each month.n the financial statements prepared for the month ended March 31, Equipment Rental Revenue and Cash should appear as follows:
a.quipment Rental Revenue, $18,400; Cash, $26,500.
b.quipment Rental Revenue, $18,400; Cash, $12,300.
c.quipment Rental Revenue, $6,300; Cash, $26,500.
d.quipment Rental Revenue, $6,300; Cash, $12,300.