On 1 November 20.18 Mars Traders paid rental to the amount of R25 740 for 12...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
On 1 November 20.18 Mars Traders paid rental to the amount of R25 740 for 12 months. The pre-adjustment trial balance for the year ended 28 February 20.19 reflected an amount for rental expenses of R25 740 as well as an amount for prepaid rental expenses on 1 March 20.18 of R12 600. The only transaction that has been recorded or processed in the accounting books of Mars Traders regarding rental expenses, related to a payment that was made on 1 November 20.18 and no other transaction or adjustment has been taken into account as yet. The amount for rental expenses to be disclosed in the statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 will be: Instructions: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the nearest Rand (eg: 50.56 is 51) 3. Only show the amount, do not show the R (eg: 12141.72) On 1 November 20.18 Mars Traders paid rental to the amount of R25 740 for 12 months. The pre-adjustment trial balance for the year ended 28 February 20.19 reflected an amount for rental expenses of R25 740 as well as an amount for prepaid rental expenses on 1 March 20.18 of R12 600. The only transaction that has been recorded or processed in the accounting books of Mars Traders regarding rental expenses, related to a payment that was made on 1 November 20.18 and no other transaction or adjustment has been taken into account as yet. The amount for rental expenses to be disclosed in the statement of profit or loss and other comprehensive income for the year ended 28 February 20.19 will be: Instructions: 1. Use a full stop to indicate any decimals (eg: 1000.01) 2. Round off to the nearest Rand (eg: 50.56 is 51) 3. Only show the amount, do not show the R (eg: 12141.72)
Expert Answer:
Answer rating: 100% (QA)
Answer To determine the amount for rental expenses to be disclosed in the statement of profit or los... View the full answer
Posted Date:
Students also viewed these accounting questions
-
Hazzizzi Ltd Trial balance as at March 31, 2023 Trade receivables 22,800,000 Trade payables 6,100,000 Provision for bad debt 7,600,000 Bank 2,100,000 Cash in hand 928,000 Petty cash 203,000 Interest...
-
This assignment requires you to complete the 2022 tax reporting for a fictional woman named Anna Smith. Question 1 T1 - step 4 - line 66 This is Anna's taxable income Answer: Question 2 T1 - step...
-
A mutual fund has 20 stocks in its portfolio. On a given day 9 stocks move up, 3 stay the same, and 8 move down. In how many ways could this happen?
-
The Shallow Pan Company has 85 obsolete pans in inventory at a cost of $5,000. The obsolete pans cant be sold in their current condition. The pans can be upgraded to tri-ply for $2,000. The tri-ply...
-
What the general requirements are for all motions?
-
An analyst for an oil company has developed a formal linear regression model to predict the sales of 50 of their filling stations. The estimated model is Ŷ = b0 + b1 X1 where...
-
Consider a 1700 kg car rolling downhill as shown in the diagram above. The car begins at a height of 80m relative to the bottom of slope. The car freely accelerates down the slope until it reaches...
-
A taxpayer donates $1,000 in cash and some athletic tickets to a sports event with a face value of $1,250 to a charitable organization. How much is considered deductible before considering AGI...
-
List three ground rules for meetings. As part of your answer, discuss why it is important to establish these ground rules before the meeting.
-
What is the definition of a digital message?
-
How do terms and slang differ within Canadas provinces and territories?
-
Discuss the benefits and drawbacks of using e-mail in the workplace.
-
List five unprofessional workplace behaviours that could put your career in jeopardy.
-
Discuss whether you agree with them, using yourself as the example. Then, select a country in the world (other than your home country or the US) and discuss whether the trends apply to the consumers...
Study smarter with the SolutionInn App