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8. Prepaid Rent

in Chapter 4 (Problem 8 of 14)
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 4 Problems at Once View
1 Adjusting Entry Identification Easy
2 Closing Journal Accounts Easy
3 Revenue Journal Entry Easy
4 Revenue Recognition Easy
5 Adjusting Entry - Salaries Payable Moderate
6 Adjusting Entry - Wage Expense Moderate
7 Closing Process Moderate
8 Prepaid Rent
You are here. 		Moderate
9 Revenue Recognition Moderate
10 Adjusting Journal Entries Hard
11 Adjusting Journal Entries Hard
12 The Effect of Transactions Hard
13 When You Forget to do Adjusting Entries Hard
14 Year End Closing & Account Classification Hard
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Chapter 4 Videos

1 Accruals and Deferrals 15:07
2 What is an Adjusting Entry? 4:11
3 Adjusting Entry: Supplies 1:54
4 Adjusting Entry: Wages 4:52
5 Adjusting Entry: Unearned Revenue 2:11
6 Adjusting Entry: Interest 2:03
7 Contra-accounts 4:40
8 Depreciation 7:10
9 The Closing Process 10:37
Chapter 12 →