20% off ACCA & CIMA Books

OpenTuition recommends the new interactive BPP books for March 2025 exams.
Get your discount code >>

Employees in apt

This topic has 1 reply, 2 voices, and was last updated 11 years ago by MikeLittle.

Viewing 2 posts - 1 through 2 (of 2 total)

Author
Posts
November 2, 2013 at 7:11 pm #144399
hasanali95
Member
- Topics: 239
- Replies: 248
P leases apartments to famous persons who r under a contract of employment to promote P’s fashion clothing.The apartments are let to them at below market rate,how do we treat this in Ps Financial statements?
Thanks
November 3, 2013 at 8:59 am #144417
MikeLittle
Keymaster
- Topics: 27
- Replies: 23214
As though they were at an arm’s length rental – so gross up the rental income and show the newly introduced expense as a marketing cost
Author
Posts

Viewing 2 posts - 1 through 2 (of 2 total)

You must be logged in to reply to this topic.