Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. pls help me for 2 question 15,16 the balance i

pls help me for 2 question 15,16 The balance in the...

90.2K

Verified Solution

Question

Accounting

pls help me for 2 question 15,16
image
The balance in the prepaid rent account betore adjustment at the ond of the year is 532,000 , which roprosents four monthw rent paid on December 1 . The adjusting entry required on December 31 is dobit Prepaid Rent, 524,000 ; credit Rent Expenise, 58,000 dehit Rent Expense, \$8,000, credit Prepaid Rent, se,000 debit Rent Expense, \$24,000, credit Prepaid Rent, $8,000 debir Prepaid Rent, $8,000, credit Rent Expense, 58,000 Question 16 Husker Du Supplies Inc. purchased a 12-month insurance policy on March 1, 2018 for $1,800. At March 31, 2018, the adjusting journal entry to record expiration of this asset will include a debit to Prepaid Insurance and a credit to Cash for $1,800. debit to Prepaid Insurance and a credit to insurance Expense for $200. debit to Insurance Expense and a credit to Cash for $150. debit to Insurance Expense and a credit to Prepaid Insurance for $150

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students