A business sublets part of its office . The rent is received quarterly in advance on 1st jan, 1st April, 1st july and 1st oct. The annual rent has been $24000 for some years, but it was increased to $30000 from 1st july 2008.. Required: What amount for the rent should appear in financial position(balance sheet)?
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FAAccruals and Prepayments
Year end 31st Jan 2009
9y ago#2Do not set test questions here and expect an answer.
You must have an answer in the same book in which you found the question and so you should ask about whatever it is in the answer that you do not understand. Then I will try my best to help you.
Hi, Mr.John.
My question from Dec.2011 Exams.ch.4. Accr.and Prepaym. Qs.1.
I don't understand why you didn't add to current.assets the amount 7200 $ of the insuarance prepaid?cc
1)on 1 jan.2008 the company made a loan of 28 800 to an employee, repayable 1 jan.2009 charging interest 2 % per year. On the due date she paid whole am.of loan and interest.
2) company paid insuarance 21 600 $ in 2008 covering the year ending 31 Avg. 2009.
3) On 1 Jan 2009 the company received rent from a tenant 9600$ covering six months
to 31 Dec.2008
For these items what total figures should be incleded in the Statement of Financial Position at 31 Dec 2008 ?
9y ago#4If you want me to answer then you must ask in the Ask the Tutor Forum - this forum is for students to help each other.
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