Shown a summary of rent received by a business from subletting three blocks out of its office

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Shown a summary of rent received by a business from subletting three blocks out of its office premises.

Identify the amount that should be included as rental income in the year ended 31 March 2008 and as an asset or liability on the Statement of financial position as at that date.

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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 28, 2023 08:22 AM

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Shown a summary of rent received by a business from subletting three blocks out of its office

Question:

Block Date received 9.4.2007 11.5.2007 21.8.2007 7.10.2007 12.12.2007 A B C A C Amount Period relating to £2,700 Three months to 30.4.2007 £4,800 Six months to 30.6.2007 £12,000 One year to 31.7.2007 £5,400 Six months to 31.10.2007 £12,000 One year to 31.7.2008

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Financial Accounting An Introduction

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