A company receives rent for subletting part of its office block. Rent, receivable quarterly in advance,...

 

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A company receives rent for subletting part of its office block. Rent, receivable quarterly in advance, is received as follows: Date of receipt Period covered 1 October 20X1 30 December 20X1 4 April 20X2 1 July 20X2 1 October 20X2 3 months to 31 December 20X1 3 months to 31 March 20X2 3 months to 30 June 20X2 3 months to 30 September 20X2 3 months to 31 December 20X2 7,500 7,500 9,000 9,000 9,000 What figures, based on these receipts, should appear in the company's financial statements for the year ended 30 November 20X2? A company receives rent for subletting part of its office block. Rent, receivable quarterly in advance, is received as follows: Date of receipt Period covered 1 October 20X1 30 December 20X1 4 April 20X2 1 July 20X2 1 October 20X2 3 months to 31 December 20X1 3 months to 31 March 20X2 3 months to 30 June 20X2 3 months to 30 September 20X2 3 months to 31 December 20X2 7,500 7,500 9,000 9,000 9,000 What figures, based on these receipts, should appear in the company's financial statements for the year ended 30 November 20X2?

Answer rating: 100% (QA)

Given that Figures based on these receipts will appear in the company financial statements on 30 ... View the full answer