Mod Shoes prepares its financial statements annually up to 31 December. It moved into its current premises

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Mod Shoes prepares its financial statements annually up to 31 December. It moved into its current premises on 1 November 2009 agreeing a rental of £24,000 per year.

Required: Set out the Rent account of the business for the year ended 31 December 2010, on each of the following alternative bases:

(a) Rent is paid quarterly (i.e. every three months) in advance, beginning 1 November 2009;

(b) Rent is paid quarterly in arrears, the first payment being made on 31 January 2010.

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Financial Accounting An Introduction

ISBN: 9780273737650

2nd Edition

Authors: Mr Barry Elliott, Mr Augustine Benedict

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Question Posted: Aug 27, 2023 10:25 AM

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Mod Shoes prepares its financial statements annually up to 31 December. It moved into its current premises

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a b Notes a When 6000 was paid in advance on 1112009 that amount would include 2...View the full answer

Financial Accounting An Introduction

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