Construct the ledger account for Rent and Rates based on the following information (it is to be
Question:
Construct the ledger account for Rent and Rates based on the following information (it is to be presented in one ledger account rather than as separate accounts).
• Rent owing as at 1 January £980.
• Rates prepaid as at 1 January £250.
• Rent owing as at 31 December £560.
• Rent paid during year £8,900.
• Rates paid during the year £6,520.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 100% (5 reviews)
1 Jan Balance bd 31 Dec Bank 31 Dec ...View the full answer
Answered By
Tobias sifuna
I am an individual who possesses a unique set of skills and qualities that make me well-suited for content and academic writing. I have a strong writing ability, allowing me to communicate ideas and arguments in a clear, concise, and effective manner. My writing is backed by extensive research skills, enabling me to gather information from credible sources to support my arguments. I also have critical thinking skills, which allow me to analyze information, draw informed conclusions, and present my arguments in a logical and convincing manner. Additionally, I have an eye for detail and the ability to carefully proofread my work, ensuring that it is free of errors and that all sources are properly cited. Time management skills are another key strength that allow me to meet deadlines and prioritize tasks effectively. Communication skills, including the ability to collaborate with others, including editors, peer reviewers, and subject matter experts, are also important qualities that I have. I am also adaptable, capable of writing on a variety of topics and adjusting my writing style and tone to meet the needs of different audiences and projects. Lastly, I am driven by a passion for writing, which continually drives me to improve my skills and produce high-quality work.
5.00+
1+ Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
On February 18, Clancy, who was in debt, took his stereo to Lucys repair shop. Because Lucy and Clancy were old friends, Lucy didnt give him a receipt. On February 19, hounded by creditors, Clancy...
-
The following additional information is available for the Dr. Ivan and Irene Incisor family from Chapters 1-5. Ivan's grandfather died and left a portfolio of municipal bonds. In 2012, they pay Ivan...
-
What operational changes would you recommend to Wally to improve performance? Wally Meyer deftly balanced his office keys and a large printout of forecasting data as he wheeled his mountain bike...
-
Ebrahim Patel is a wholesaler who uses the periodic inventory system to account for inventory. Transactions for February: 1 Bought inventory from Rich Traders for R5 000 on credit. 2 Sold inventory...
-
For the electric dipole shown in Fig. 4-13, d =1 cm and |E| = 4 (mV/m) at R = 1 m and 0o. Find E at R = 2 m and 90 o.
-
Malaysia continues to assert its position as a world leader in Islamic finance. Accounting for around 67% of global sukuk issuances, Malaysia is the largest sukuk issuer in the world. It is a pioneer...
-
List the different ways nonprofit tax - exempt organizations can or should self - regulate.
-
Freeman and Lueke, attorneys-at-law, provided legal representation to Murphy Equipment Inc. in a product liability suit. Twenty partner hours and 65 associate hours were worked in defending the...
-
Suppose there are 10 assets which are uncorrelated. You may invest in any one, or in any combination of them. The mean rate of return is the same for each asset, but the variances are different. The...
-
The following data are available about the firms trade receivables: The balance of trade receivables as at 31 December is 48,000. However, this total includes an amount of 1,200 which is to be...
-
A firm purchases a piece of equipment for 56,000. It is to be depreciated using the reducing balance method at a rate of 25 per cent. (a) What would be the net book value of this asset on the balance...
-
Discuss the importance of customer satisfaction to quality.
-
10. Describe the four steps of the high-low method and how these steps are used to estimate costs. 12. Describe the five steps of the scattergraph method and how these steps are used to estimate...
-
6. Distinguish between contribution margin per unit and contribution margin ratio. 7. What does the term margin of safety mean? How might management use this information? 11. What is sensitivity...
-
How does the development of advanced biofuels from lignocellulosic biomass contribute to a sustainable energy portfolio, and what are the major technological hurdles in its commercial-scale...
-
ADRIAN and BLAINE were enthusiastic hobbyists in metal detecting. From time to time they went to sites together and split the costs of transport and accommodation. They did not operate in partnership...
-
Frederic was hired to be the executive head chef for a new, high-end restaurant. He was involved in buying equipment, suggesting menu items, hiring and training staff, and running the kitchen. The...
-
Divide into two groups and prepare arguments for and against the following behavior: Your Company has a clearly stated employee surveillance policy that stipulates that anything an employee does on a...
-
What are the key elements of a system investigation report?
-
For each of the following, state in which day book the transaction would be recorded. (a) Purchases made for immediate payment. (b) Motor vehicle sold on credit. (c) Goods returned to us by credit...
-
For each of the following, state in which day book the transaction would be recorded. (a) Sales made on credit. (b) Goods previously purchased by the business sent back to the original supplier. (c)...
-
From the following data construct a statement of comprehensive income for S Rogers for the year ending 31 July 2018 and a statement of financial position as at that date. Inventory at 31 July 2018...
-
Thi is conducting a survey as part of a project for her Political Science class. Out of 500 CSU students she finds that 300 are registered voters. Compute a 90% confidence interval for the true...
-
Sonja Wong made the following statements regarding employee stock options, treasury stock Statement 5: Mayhill Inc. reports 4,287,000 stock options granted during fiscal 2017 at a weighted-average...
-
Would each of the following practices be used in a lean manufacturing system or a traditional manufacturing system? As long as the defected products in a period are below a certain threshold,...
Study smarter with the SolutionInn App