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Can you please help me, I would like a more detailed explanation on the answer of the Prepayment I think i perception of this is a little blurry and the answer is also- thank you
In future, please ask in the F3 Ask the Tutor forum if you wish me to answer – this forum is for students to help each other 🙂
The year ends on 30 April 2009, and the latest payment before that date was on 1 April 2009. Because they are paying in advance, this was for the three months April, May, and June.
So May and June have been prepaid – 2 months, and since it is at the higher rent charge, the prepaid amount is 2/12 x 230,400 = $38,400.Thank you so much John- I think My perception gets lost in these ones.
I shall ask in the F3 Forum as I only seen that tab after I asked the above question 🙂
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