Step 5 - Dealing with adjustments - Rent
Rental expenses prepaid (because rental is for 15 months)
Trial balance rental = RM24,000 for 15 months.
Monthly rental = 24,000 ÷ 15 = 1,600
So,
Expense for 12 months
= 1,600 × 12
= 19,200
Prepaid rental = 24,000 − 19,200 = 4,800
To Record:
SOPL - rental expense = 19,200 (Expense for that period)
SOFP - current asset: Prepaid rental = 4,800
Tiada ulasan:
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