Free ACCA & CIMA online courses from OpenTuition
Free Notes, Lectures, Tests and Forums for ACCA and CIMA exams
December 2023 - June 2024 exams: Get your discount code >>
November 13, 2023 at 3:52 am
Property business income
Sale Ltd jets out an office building which is surplus to requirements, although the property was empty between 1 July 2021 and 31 August 2021 Income and expenditure for the year ended 31 March 2022 is:
Insurance for the year ended 31 March 2022 (1400) paid on 1 April 2021
Rent for the quarter ended 30 June 2021
6300 received on 1 April 2021
10 July 2021
Repaid security deposit of one month’s rent (2,100)
5 August 2021 Decorating the office building (3,700)
12 August 2021 Advertising for tenants (800)
1 September 2021 Premium for a 12-year lease 15,000
1 September 2021 Rent for the year ended 31 August 2022 27,000 What is the property income?
August 28, 2023 at 9:06 pm
I just want to say thank you to the Teacher. THANK YOU!!
October 5, 2023 at 3:40 pm
July 18, 2023 at 4:04 am
For Part 1 Video Example 1 Accurals Basis the Answers – Page 223 of Lecture notes they have added the 800 expenses and posted the income as 5300 Why??
June 13, 2023 at 10:16 pm
Please explain how 4500 is calculated (in arrears) time stamp 04:36 – 04:44 (Video 1)
June 18, 2023 at 4:23 pm
Because the fourth payment in arrears of 1500 is on 30 June 2023 which is after the end of the tax year.
June 12, 2023 at 10:03 pm
Why in example one, she used 4500 for the in arrears?
September 17, 2023 at 6:29 am
It’s the figure multiply by 9 months divided by 12 months to get 4500
May 9, 2023 at 9:35 am
i dont understand why in example 1 the rent is taken for 11 months shout it not be from july 2022 to march 2023 9 months rent?
May 28, 2023 at 5:52 am
When the miss was explaining the example, she took 11 months instead of 12 bcoz of the 1 month missing (when the tenant did’nt pay ) as they have said that the annual rent is 9600……Even i got confused with it……now for exam i hope they pose easy question……but whether you are taking 11 months or 9 months …,make sure to make a NOTE in the answer that u have assumed (…) .as this was said by the miss in her lectures to write a note when u don’t understand……….this will definitely fetch u some marks even if u are wrong
April 3, 2023 at 7:53 pm
I really like the lectures,Thanks. I have a question though,on the lectures in example 1 we have taken redecorations as deductible expense but in example 2 we didnt. Any reason for that?
April 6, 2023 at 8:39 am
Because the redecorations expense occured in 2023 so it will be deducted in the tax year 2023/24
You must be logged in to post a comment.