Applying accounting principles and preparing journal entries for
prepaid rent [10–15 min]
Consider the facts presented in the following table for Tropical View:
A B C D
Beginning Prepaid rent ..................................1200 900 200 700
Payments for Prepaid rent
during the year..........................................1400 b 1800 d
Total amount to account for .........................2600 1400 ? ?
Subtract: Ending Prepaid rent........................600 500 c 400
Rent expense.................................................a 900 1900 1100
Requirements
1. Complete the table by filling in the missing values.
2. Prepare one journal entry for each situation for the missing amounts (a–d). Label the
journal entries by letter.
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