- This topic has 3 replies, 2 voices, and was last updated 11 years ago by
.
Viewing 4 posts - 1 through 4 (of 4 total)
- Posts
A business pays rent quarterly in arrears on 31 march, 30 june, 30 September and 31 December each year . The rent payables was $24000 per year up to 31 july 2013 and increased to $27000 per year from 1 august. What is the rent expense for the year ended 31 January 2014?
Can I see a calculation please?
From 1 Feb 2013 to 31 Jul 2013 (6 months) the rent is 6/12 x 24,000 = 12,000
From 1 Aug 2013 to 31 Jan 2014 (6 months) the rent is 6/12 x 27,000 = 13,500
Total expense = 25,500
Viewing 4 posts - 1 through 4 (of 4 total)
- You must be logged in to reply to this topic.