Highleys Mall Limited (Ltd) is a shopping centre located South of Durban, Kwazulu-Natal. The company is...
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Highleys Mall Limited (Ltd) is a shopping centre located South of Durban, Kwazulu-Natal. The company is in the process of preparing the financial statements for the year ended 31 December 2021. While preparing the annual rental reconciliation the accountant concluded that the bookkeeper had recognized all rentals received as income, including an amount of R 100 000, received in December 2021, from a long-standing tenant S. Ramie in respect of his February 2022 rental. Required: Discuss whether the above treatment of the rental received is correct. Highleys Mall Limited (Ltd) is a shopping centre located South of Durban, Kwazulu-Natal. The company is in the process of preparing the financial statements for the year ended 31 December 2021. While preparing the annual rental reconciliation the accountant concluded that the bookkeeper had recognized all rentals received as income, including an amount of R 100 000, received in December 2021, from a long-standing tenant S. Ramie in respect of his February 2022 rental. Required: Discuss whether the above treatment of the rental received is correct.
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Related Book For
Corporate Finance and Investment decisions and strategies
ISBN: 978-1292064062
8th edition
Authors: Richard Pike, Bill Neale, Philip Linsley
Posted Date:
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