Crow Golf Co. prepaid three years rent ($24,000) on January 1, 2010. At December

Question

Crow Golf Co. prepaid three years rent ($24,000) on January 1, 2010. At December 31, 2010, Crow prepaid a trial balance and then made the necessary adjusting entry at the end of the year. Crow adjusts its accounts once each year-on December 31.

What amount appears for Prepaid Rent on
a. Crow's unadjusted trial balance at December 31, 2010?
b. Crow's adjusted trial balance at December 31, 2010.

What amount appears for Rent Expenses on
a. Crow's unadjusted trial balance at December 31?
b. Crow's unadjusted trial balance at December 31?

Explanation / Answer

a.) $24,000 on prepaid rent b.) $16,000 on prepaid rent a.) $0 rent expense b.) $8,000 rent expense

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