Q: Troy Co has a property rental business and received cash totalling $838,600 from tenants during the year ended 31 December 2006.
Figures for rent in advance and in arrears at the beginning and end of the year were:
-------------------------------------------31 Dec 2005------31 Dec 2006
Rent received in advance-----------102,600--------------88,700
Rent received in arrears--------------42,300---------------48,400
(arrears were all subsequently received)
What amount should appear in Troy Co's statement of profit or loss for the year ended 31 December 2006 for rental income?
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Accruals and Prepayments
10y ago#1You have asked another question which is exactly the same but with different numbers.
I have just answered your other question and so you should not be able to do this one by yourself.
AH yes I was able to solve it
10y ago#3Great :-)
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