Current Attempt in Progress

As the recently appointed auditor for Cullumber Corporation, you have been asked to examine selected accounts before the six$-$month

financial statements of June $30,2023,$ are prepared. The controller for Cullumber mentions that only one account is kept for intangible

assets. The entries in Intangible Assets since January $1,2023,$ are as follows:

Prepare the journal entry or entries needed to correct this account. Allocate rent between the prepaid and expense accounts at Jun

Assume that the patent and the development costs have a useful life of $10$ years and that Cullumber follows IFRS. $($Credit account

titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account

titles and enter $0$ for the amounts. List all debit entries before credit entries. Round answers to $0$ decimal places, e$.$g$.5,125.)$

Account Titles and Explanation

Credit