- This topic has 2 replies, 2 voices, and was last updated 3 years ago by
.
- Posts
Leddley owns two properties which it rents to tenants. In the year ended 31 December 20×6, it received $280,000 in respect of property 1 and $160,000 in respect of property 2. Balances on the prepaid and accrued income accounts were as follows.
31 December 20×6 31 December 20×5
Property 1 13,400 Dr 12,300 Cr
Property 2 6,700 Cr 5,400 Dr
What amount should be credited to the statement of profit or loss for the year ended 31 december 20×6 in respect of rental income?
Answer : $453,600
* I don’t understand how to get that answer, can someone help me please. The Dr Cr next to amounts is confusing *
Why have you asked this question for a second time?
I already answered your previous post of it!!!
https://opentuition.com/topic/accruals-prepayment-question/Why have you asked this question for a second time?
I already answered your previous post of it!!!
https://opentuition.com/topic/accruals-prepayment-question/
- The topic ‘Accruals & Prepayment Question’ is closed to new replies.