An adjustment for Prepaid Rent Expense would indicate:
A)the amount originally paid.
B)the amount expired.
C)the amount of the ending balance.
D)the amount of the trial balance.

Question

Quizplus · Accepted Answer

An adjustment for Prepaid Rent Expense is made to recognize the amount of rent that has expired or been used up during the current accounting period. It is not related to the amount originally paid, the ending balance, or the trial balance.

An Adjustment for Prepaid Rent Expense Would Indicate