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9. Prepaid Rent

in Chapter 3 (Problem 9 of 15)
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 Revenue Journal Entry Easy
2 Adjusting Entry Identification Easy
3 Revenue Recognition Easy
4 Revenue Recognition Easy
5 Adjusting Entry - Salaries Payable Moderate
6 Adjusting Entry - Wage Expense Moderate
7 Determining Net Income From Journal Entries Moderate
8 Determining Net Income From Transactions Moderate
9 Prepaid Rent
You are here. 		Moderate
10 Revenue Recognition Moderate
11 Adjusting Journal Entries Hard
12 Adjusting Journal Entries Hard
13 Revenue and Expense Recognition Hard
14 The Effect of Transactions Hard
15 When You Forget to do Adjusting Entries Hard
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Chapter 3 Videos

1 Cash vs. Accrual Accounting 7:21
2 Expense Recognition 8:07
3 Accruals and Deferrals 15:07
4 What is an Adjusting Entry? 4:11
5 Adjusting Entry: Supplies 1:54
6 Adjusting Entry: Wages 4:52
7 Adjusting Entry: Unearned Revenue 2:11
8 Adjusting Entry: Interest 2:03
9 Contra-accounts 4:40
10 Depreciation 7:10
Chapter 4 →