Forms for: Problem 7-4 Paying Rent in Advance and the Monthly Prepaid Rent Requi

Question

Forms for: Problem 7-4 Paying Rent in Advance and the Monthly Prepaid Rent Requirement 1 -June 20 advance payment of rent Date Account Name Debit Credn Requirement 2-Prepaid Rent timeline In the boxes above the timeline, indicate the amount of remaining Prepaid Rent for each date on the timeline. Note that the amounts of Prepaid Rent for June 20 (the date the contract was signed) and for October 31 (the last day of the four month rental period) have already been entered h the boxes below the timeline, indicate the amount of Prepaid Rent that expires (is used-up). during each of the four months. $0 June 20 July 1 July 31 Aug. 31 Sept. 30 Oct. 31 July August September October Month 1 Month 2 Month 3 Month 4

Explanation / Answer

Number you are given in flow charts are correct.

Requirement 3

Requirement 4

You can reach me on comment box if you have any doubts. Please rate this answer

Prepaid Rent Debit Credit (1) What is the current balance $ 12,000 (3) What adjustment is required to adjust from the current balance to the should be balance $ 3,000 (2) What should be the balance ($12,000-$3,000) $    9,000

Related Questions

Navigate

• Browse (All)
• Browse F
• Subjects

---