Dizzy Toys prepaid three years rent ($36,000) on January 1, 2018. At December 31, 2018, Dizzy prepared

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Dizzy Toys prepaid three years’ rent ($36,000) on January 1, 2018. At December 31, 2018, Dizzy prepared a trial balance and then made the necessary adjusting entry at the end of the year. Dizzy adjusts its accounts once each year—on December 31. What amount appears for Prepaid Rent on

a. Dizzy’s unadjusted trial balance at December 31, 2018?

b. Dizzy’s adjusted trial balance at December 31, 2018? What amount appears for Rent Expense on

c. Dizzy’s unadjusted trial balance at December 31, 2018?

d. Dizzy’s adjusted trial balance at December 31, 2018?

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Financial Accounting

ISBN: 978-0134725987

12th edition

Authors: C. William Thomas, Wendy M. Tietz, Walter T. Harrison Jr.

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