On June 1,Ren,Inc.paid $12,000 for one year of rent in advance.In Ren's information system,the $12,000 was recorded as prepaid rent.Ren forgot to make the necessary adjusting entry before preparing its annual financial statements on December 31.Put an X in the appropriate box to show how each of these line items will be reported on Ren's financial statements.Dollar amounts are not required.

Question

On June 1,Ren,Inc.paid $12,000 for one year of rent in advance.In Ren's information system,the $12,000 was recorded as prepaid rent.Ren forgot to make the necessary adjusting entry before preparing its annual financial statements on December 31.Put an X in the appropriate box to show how each of these line items will be reported on Ren's financial statements.Dollar amounts are not required.
On June 1,Ren,Inc.paid $12,000 for one year of rent in advance.In Ren's information system,the $12,000 was recorded as prepaid rent.Ren forgot to make the necessary adjusting entry before preparing its annual financial statements on December 31.Put an X in the appropriate box to show how each of these line items will be reported on Ren's financial statements.Dollar amounts are not required.

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The Answer of On June 1,Ren,Inc.paid $12,000 for one year of rent in advance.In Ren's information system,the $12,000 was recorded as prepaid rent.Ren forgot to make the necessary adjusting entry before preparing its annual financial statements on December 31.Put an X in the appropriate box to show how each of these line items will be reported on Ren's financial statements.Dollar amounts are not required.