On january 10 2012 a paid 2100 rent for a storage facility

Reference no: EM13613398

On January 10, 2012, A paid $2,100 rent for a storage facility for the period from January 10 through May 31. The rent charge is $ 450 per month. Write the journal entry, to show the effect of:

a. The January 10, 2012 rent payment assuming that the disbursement was recorded as an expense.

b. The January 31, 2012 adjustment recorded to show the appropriate amount of expense in the income statement of A for the month of January.

c. Show an alternative way of recording the disbursement of $2,100 on January 12, 2010.

d. Record the adjustment that would be appropriate at January 31, 2012 if the disbursement had been recorded as in c.

e. What is the effect of the difference between the two methods of recording these items (a and b versus c and d) on the: 1. Income statement for the month of January? 2. Balance sheet at January 31?

Reference no: EM13613398

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