Ask Experts Questions for FREE Help !
Ask
    rosem157's Avatar
    rosem157 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 20, 2009, 10:36 PM
    Prepaid rent- Balance day adjustments
    What is the figure for the balance day adjustment for prepaid rent on 31/05/08. It was paid on 25th April for 3 months in advance. Balance day adjustments for 30/04/08 were Prepaid rent 1252.75, rent 1252.75. What is the balance day adjustment for 31/05/08??
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Sep 21, 2009, 03:07 AM

    If it was paid for three months in advance and one month has gone by, how much is that?
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Wrote off prepaid rent and prepaid rent account [ 1 Answers ]

Wrote off $100.00 of prepaid rent as of November 30 to rent expense for December. Prepaid Rent $100.00 Does it meant, Rent Expense: $100.00 Prepaid Rent : $0.00

Prepaid rent [ 2 Answers ]

In Pennsylvania can a landlord and tenant agree that the tenant will pay a full year's worth of rent at the beginning of the lease?

Balance Day Adjustments [ 4 Answers ]

Hi, have an assignment on MYOB, and have a list of balance sheet adjustments that I have to enter. Really need some help in what accounts to exactly alter on the journal. Here are the instructions and what my thoughts are on each one please let me know if I'm on the right track!   --...

Is prepaid rent income? [ 1 Answers ]

Hello, Through out college, I understood that prepaid rent is a liability for an accrual-basis taxpayers and income for cash-basis taxpayers. However, in a CPA course review, it states that "Prepaid rent is income when received even for an accrual-basis taxpayer". Please clarify. Thanks,...

Prepaid Rent and Unearned Rent [ 2 Answers ]

What is the difference between Prepaid rent & unearned rent? Is this the same. And if in the Trial balance the account name is Unearned rent, then can we put in the liabilities side as Prepaid rent?

View more questions Search