A business has taken out an annual licence at a cost of 9,496 which covers the period 01/08/X1 to 31/07/2. Their year end is 28/02/2. What is the value of the prepayment adjustment required at 28/02/2 ? (Round to the neorest whole number) (Enter the value with no \& sign, comma or decimal places) Answer: Sophia pays her rent quarterly in arrears and her year end is 31 st December. During the year she has made payments as follows? 1st May (re quarter ending 30 th Apr) E1,500 1st Aug (re quarter ending 31st Jul) 1,500 1st Nov (re quarter ending 31st Oct) E1,750 Sophia anticipates that her next quarter's payment will be the same as she paid in November. How much wilt she show for rent on her statement of profit or loss at 315 . December? (Round to the nearest whole number) YEnter the value with no Esign, comma or decimal ploces) Answers The gas account for the year ended 30 June X2 is as follows: Tag Ltd provides insurance for independent food outlets, they received 88.900 from several customers for the annual insurance for the following year. What is the correct journal to enter the prepayment adjustment required at the year end? DEBIT 68,90028,900 CREDIT (Select your answer in eich dropdown menu)