Complete the Prepaid Rent 3-column ledger below to find out the amount of rent expense incurred by Indoor Fun in February 2022. GST needs to be accounted for.
Indoor Fun is a business offering various indoor sports activities to its customers and rent is one of its largest expenses. Its partially filled Prepaid Rent account below is missing an additional $66,000 (GST-inclusive) prepaid for rent by Indoor Fun on February 8, 2022 and the recognition of rent expense for the month of February 2022.
Complete the Prepaid Rent 3-column ledger below to find out the amount of rent expense incurred by Indoor Fun in February 2022. GST needs to be accounted for.
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Prepaid Rent |
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Date |
Explanation |
Dr ($) |
Cr ($) |
Balance ($) |
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01/2/2022 |
Opening Balance |
33,000 |
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33,000 DR |
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28/2/2022 |
Closing Balance |
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24,000 DR |
Using the General Journal below, record the additional $66,000 (GST-inclusive) prepaid for rent and record the rent expense for the month of February 2022 following the completion of Prepaid Rent 3-column ledger above. GST needs to be accounted for. Narrations are not required.
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Date |
Account titles (Details) |
Dr ($) |
Cr ($) |
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