Homework Answers
Total rent paid from january 1 to december 31, 20x6 =£2400.
Accounts are drawn upto september 30, 20x6 = for 9 months.
Therefore remaining three months rent for october ,november ,december would be prepayment for the accounts closed on september 30, 20x6.
Rent expense =£2400×9/12 =£1800
Prepayment =£2400-£1800=£600.
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