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Vine sublets part of its office accommodation.
The rent is received quarterly in advance on 1 January, 1 April, 1 July and 1 October. The
annual rent has been $24,000 for some years, but it was increased to $30,000 from 1 July
20X5.
What amounts for rent should appear in the company’s financial statements for the year
ended 31 January 20X6?
Income statement Statement of financial position
A $27,500 $5,000 in accrued income
B $27,000 $2,500 in accrued income
C $27,000 $2,500 in prepaid income
D $27500 $5,000 in prepaid income
5. At 1 September, the motor expenses
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