Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

could someone help me explain how to get to the answer. The answers are already there but i want to learn how to get to

could someone help me explain how to get to the answer. The answers are already there but i want to learn how to get to the numbers of adjusting entries of A and B. someone said to use t-accounts but do not know how a t-account works either. thank you in advance
adjusting entries
The company paid 18,000 for a one year lease that commenced on 9/1/20
a) If company recorded to rent expense: (adjusting entry)
prepaid rent 12000
rent expense 12000
b) If a company recorded to Prepaid rent: (adjusting entry)
Rent Expense 6000
Prepaid rent 6000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Managerial Accounting

Authors: Ray Garrison, Eric Noreen, Peter Brewer

11th Edition

0072834943, 9780072834949

More Books

Students also viewed these Accounting questions