acct2013 at Mississippi State

10. Prepaid Rent

in Chapter 3 (Problem 10 of 18)
A company’s prepaid rent account showing the beginning and ending balances for Year 1 is shown below:
Prepaid Rent
6500
       
7100
The Year 1 income statement reported $8,000 in rent expense. How much cash was paid for rent in Year 1?
  1. $7,400
  2. $5,600
  3. $7,100
  4. $8,600
  5. None of the above
Watch Solution (1:36) Hide Solution Reveal Solution

The Rest Of The Practice Problems

Click Here to View All Chapter 3 Problems at Once View
1 Adjusting Entry Identification Easy
2 Land Purchased With Cash Easy
3 Revenue Recognition Easy
4 Revenue Recognition Easy
5 Revenue Journal Entry Easy
6 Closing Journal Accounts Easy
7 Determining Net Income From Journal Entries Moderate
8 Determining Net Income From Transactions Moderate
9 Closing Process Moderate
10 Prepaid Rent
You are here. 		Moderate
11 Revenue Recognition Moderate
12 What Should Be Journaled Moderate
13 Adjusting Journal Entries Hard
14 Adjusting Journal Entries Hard
15 Revenue and Expense Recognition Hard
16 The Effect of Transactions Hard
17 When You Forget to do Adjusting Entries Hard
18 Year End Closing & Account Classification Hard
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Chapter 3 Videos

1 The Journal, Ledger, Trial Balance 14:00
2 Cash vs. Accrual Accounting 7:21
3 Expense Recognition 8:07
4 Accruals and Deferrals 15:07
5 What is an Adjusting Entry? 4:11
6 Adjusting Entry: Supplies 1:54
7 Adjusting Entry: Unearned Revenue 2:11
8 Adjusting Entry: Interest 2:03
9 Contra-accounts 4:40
10 Depreciation 7:10
11 The Closing Process 10:37
Chapter 4 →