Allocating Prepaid Expense to Expenses and to Asset Accounts

220 | Basic Financial Accounting and Reporting 2021 Edition by Prof. WIN Ballada NAME: SECTION: SCORE: PROFESSOR: Problem #11 Allocating Prepaid Expense to Expenses and to Asset Accounts SH Paz Bobadilla Leasing is into the business of sub-leasing of commercial properties. Compute the amounts, indicated by question marks (?) for each of the following property locations: Prepaid Rent, Apr. 1 Rent Payments during the Month Total Prepaid Rent, Apr. 30 Rent Expense for the Month . 40,000 140,000 ? 30,000 ? Property B D 50,000 90,000 60,000 ? 110,000 ? ? 200,000 150,000 40,000 70,000 90,000 120,000 80,000