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    Karen1292's Avatar
    Karen1292 Posts: 1, Reputation: 1
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    #1

    Dec 12, 2012, 10:00 PM
    Financial accounting
    Utopia dance clubs, inc. rented an old warehouse for its newest club on October 1, 2010. To receive a discount, Utopia paid $ 11,700 for 18 months of rent in advance. Assume no additional rent is paid in 2011 and 2012 and answer the following questions:
    How much rent expense will be recognized for the year ended December 31, 2010
    What will be the balance in the prepaid rent account at December 31, 2010?
    How much rent expense will be recognized for the year ended December 31, 2011?
    What will be the balance in the prepaid rent account of December 31, 2011?
    How much rent expense will be recognized for the year ended December 31, 2012?
    What will be the balance in the prepaid rent account at December 31,2012?
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 173
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    #2

    Dec 13, 2012, 04:50 AM
    Why don't you try this yourself, we don't provide model answers but we will discuss principle with you

    The key to this question is there are 12 months in a year
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