Solved: Why rent expense need to be listed and then prepaid rent, Accounting Basics

+44 141 628 6080
[email protected]

Why rent expense need to be listed and then prepaid rent

Problem:

On Apr. 1: Does Rent Expense need to be listed first and then Prepaid Rent? Why?

April 1 Signed a one year office building rental agreement for $12,000. The company paid the entire amount of $12,000. The portion of the cost related to April is recorded as an expense for April.

Apr 1 Rent Expense 1,000
Prepaid Rent 11,000
Cash 12,000

Solution Preview :

Prepared by a verified Expert

Accounting Basics: Why rent expense need to be listed and then prepaid rent

Reference No:- TGS01931636

Now Priced at $20 (50% Discount)

Recommended (94%)

Rated (4.6/5)

Have a Question? (oR Write a Review)

Write atleast 100 words!!

Recent Questions Asked Accounting Basics

Q : Discuss about historical education philosophies

What experiences did you have as a student that you now understand were rooted in historical education philosophies?

Q : Characteristics of teaching profession

What are the primary characteristics of the teaching profession? Explain how they have been impacted by the evolution of Educational Philosophy.

Q : Buying maximum number of shares for given initial margin

You have $13,000 available to invest. What is the maximum number of shares you can buy if the initial margin is 60%?

Q : Linear equations and systems of equations with parameters

Linear Equations and Systems of Equations with Parameters.Please help with the following problems. Provide step by step calculations.

Q : Why rent expense need to be listed and then prepaid rent

On Apr. 1: Does Rent Expense need to be listed first and then Prepaid Rent? Why?

Q : Define an education pioneer

How would you define an education pioneer? Discuss two or three pioneers who have influenced your own personal philosophy of education.

Q : Find the time coordinates on the time axis

A wave is traveling toward +x on a wire. The motion of a point at x1= .45 m is shown.

Q : Compute total dollar return on investment

Compute your total dollar return on this investment. Does your answer change if you keep the stock instead of selling it?

Q : Finding the determinant for the given matrix

What is the transpose of this matrix?Find the determinant for this matrix.

1933884

Questions
Asked

3,689

Active Tutors

1425280

Questions
Answered

Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!

ask Question

Asked Questions

What when people get involved in community and social change

When people get involved in community and social change but do not hold official political positions, which of the terms best describes what they are part of

Compare critical feminist theory and power-control theory

Compose a paper that compares and contrasts critical feminist theory and power-control theory as forms of gendered criminology. Your paper should:

Discuss statements about sociological approaches

Question: Which of the following statements about sociological approaches are true?

How are schools important in the struggle for power

Question: How are schools important in the struggle for power and status?

How the major schools of thought within sociology

Question: Discover how the major schools of thought within sociology explain social stratification.

What cases does female status tend to be highest

Question: In which of the following cases does female status tend to be highest? Group of answer choice

Discussion about cultural appropriation

This week watch the 3 short video clips below about cultural appropriation. These videos will redefine terms like cultural appropriation