The financial year ended on 31 December 2011. From the following details, make adjustments in ledger (t-account) expense account for rent.  

On 31 December 2010, last quarter's rent amounting to £3,900 was owing  

The rent chargeable per year was £15,600  

The following rent payments were made in the year 2011: 

6 January £3,900, 

4 April £3,900, 

7 July £3,900, 

18 October £3,900  

The 4th quarter's rent for 2011 is still owing



a. sure to show the Accrued b/d for 2012.

b. which financial statement this accrued amount should be posted to; should also state under what sub-heading.

c. Explain the difference between accrued rent and prepaid rent

Answer rating: 100% (QA)

a The adjustments in the ledger Taccount for rent expense account for the financial year ended Decem... View the full answer