The Balance in the Prepaid Rent Account Before Adjustment at the End

question 119

Multiple Choice

The balance in the prepaid rent account before adjustment at the end of the year is $15,000 and represents three months rent paid on December 1. The adjusting entry required on December 31 is:

• A) debit Prepaid Rent, $5,000; credit Rent Expense $5,000.
• B) debit Prepaid Rent, $10,000; credit Rent Expense, $10,000.
• C) debit Rent Expense, $15,000; credit Prepaid Rent, $15,000.
• D) debit Rent Expense, $5,000; credit Prepaid Rent, $5,000.

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Definitions:

Longitudinal Design

A special kind of systematic observation, used by correlational researchers, that involves obtaining measures of the variables of interest in multiple waves over time.

Preschoolers

Young children typically between the ages of 3 and 5 years who are in the developmental stage before attending kindergarten.

Experimental Studies

Research methodologies that involve the manipulation of variables to observe the effect on another variable, typically within a controlled environment.

Causality

The relationship between cause and effect where one event (the cause) leads to the outcome (the effect), fundamental to scientific and philosophical inquiry.