Nakatomi Plaza Ltd has an accounting year end of 30 September 2021. They pay for security...

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Nakatomi Plaza Ltd has an accounting year end of 30 September 2021. They pay for security services at a rate of €12,000 per month, billed every 3 months in arrears, and the last bill received before the year end was for the 3 months ending 31 July 2021. They also pay for buildings insurance. The insurance contract starts on 1 April each year and insurance premiums are paid for a full 12 months in advance. The insurance premium charged on 1 April 2021 represented a 20% increase on the premium charged on 1 April 2020. The total Insurance expense in the accounts ended 30 September 2021, after booking a prepayment, has been calculated as €88,000. What are the accruals and prepayments Nakatomi Plaza Ltd should have on its balance sheet as at 30 Sept 2021? €24,000 Security Accrual and €52,800 Insurance Prepayment €24,000 Security Prepayment, and €54,000 Insurance Prepayment €24,000 Security Accrual, and €44,000 Insurance Prepayment €24,000 Security Accrual and €48,000 Insurance Prepayment Nakatomi Plaza Ltd has an accounting year end of 30 September 2021. They pay for security services at a rate of €12,000 per month, billed every 3 months in arrears, and the last bill received before the year end was for the 3 months ending 31 July 2021. They also pay for buildings insurance. The insurance contract starts on 1 April each year and insurance premiums are paid for a full 12 months in advance. The insurance premium charged on 1 April 2021 represented a 20% increase on the premium charged on 1 April 2020. The total Insurance expense in the accounts ended 30 September 2021, after booking a prepayment, has been calculated as €88,000. What are the accruals and prepayments Nakatomi Plaza Ltd should have on its balance sheet as at 30 Sept 2021? €24,000 Security Accrual and €52,800 Insurance Prepayment €24,000 Security Prepayment, and €54,000 Insurance Prepayment €24,000 Security Accrual, and €44,000 Insurance Prepayment €24,000 Security Accrual and €48,000 Insurance Prepayment

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Answer 24000 Security Accrual and 52800 Insurance Prepayment Explanation Sec... View the full answer