Question: could someone explain this plz Question 17 (1 point) At December 31, 2015, the followings require inclusion in a company's financial statements: On December 1,

could someone explain this plz Question 17 (1 point) At December 31,could someone explain this plz

Question 17 (1 point) At December 31, 2015, the followings require inclusion in a company's financial statements: On December 1, 2015 the company made a loan of $12,000 to an employee, repayable on December 1, 2018, charging interest at 2% per year. On the due date, she repaid the loan and paid the whole of the interest due on the loan to that date. The company paid an annual insurance premium of $9,000 in 2015, good for coverage through to July 31, 2016. On January 31, 2016, the company received rent from a tenant of $6,000 covering the six months to January 31, 2016. Given the above information, how much non-current assets have to be reported in the company's statement of financial position as at December 31, 2015? For your answer, make sure to put the number without dollar signs ($), commas (,), periods (.), and decimal points. Again, please state the number only without dollar signs, commas, periods, and decimal points for your answer. For example, if the answer happens to be 12345, then you must simply put 12345

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!