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Accruals and Prepayment

Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › Accruals and Prepayment

  • This topic has 0 replies, 1 voice, and was last updated 2 years ago by swethajames.
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  • November 9, 2020 at 1:40 am #594469
    swethajames
    Member
    • Topics: 5
    • Replies: 4
    • ☆

    A company’s telephone bill consists of two elements. One is a quarterly rental charge, payable in advance; the other is a quarterly charge for calls made, payable in arrears. At 1 April 20X9, the previous bill dated 1 March 20X9 had included line rental of $90. Estimated call charges during March 20X9 were $80.
    During the following 12 months, bills totalling $2,145 were received on 1 June, 1 September,
    1 December 20X9 and 1 March 20Y0, each containing rental of $90 as well as call charges. Estimated call charges for March 20Y0 were $120.
    What is the amount to be charged to the statement of profit or loss for the year ended 31 March 20Y0?

    I needed help with the calculation. Thanks in advance!

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