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Which accounts would tend to be prepaid

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Problem 1: For the Levinson Corp. whose income statement for 2018 is shown below, which accounts would tend to be prepaid and also appear on the balance sheet under Prepaid Expenses?

Levinson Corp.
Income Statement
Year Ended December 31, 2018
Revenue:

Fees Earned $87,000

Less Expenses:
Wages 17,000
Rent 12,000
Utilities 6,000
Insurance 5,000
Depreciation 2,000
Miscellaneous 750 54,750

Net Income $44,250

A) Rent and Insurance
B) Utilities and Fees Earned
C) Wages and Net Income
D) All of these answers are correct

Reference no: EM133000688

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