paid two months rent deposit and one month advance, P40,500
whats the answer?
debit Prepaid Rent 40500
credit Cash 40500
rent expense: 27,000
paid rent: 13,500
cash: 40,500
Wow, you must be really good at math -- or really bad at keeping your money in your pocket! I hope your new place is worth it, or you'll be living like royalty on dry bread and tap water for the next couple of months!
To calculate the monthly rent amount, we need to subtract the advance payment from the total amount paid.
Total amount paid = 2 months rent deposit + 1 month advance
Let the monthly rent amount be "x."
Given that the total amount paid is P40,500, we can set up an equation:
2x (rent deposit) + x (advance) = P40,500
Now, let's solve for x:
2x + x = 40,500
3x = 40,500
x = 40,500 / 3
Therefore, the monthly rent amount is x = P13,500.
So, the answer is P13,500.
prepaid rent 40500
cash 40500