A trader commenced business on 1 February 2003. He paid rent on his premises as follows. Which
Question:
A trader commenced business on 1 February 2003. He paid rent on his premises as follows.
Which amount for rent should be shown in the Profit and Loss Account for the year ended 31 January 2004?
A. $6900
B. $7600
C. $7800
D. $9000
Transcribed Image Text:
Date 1 Feb 2003 1 Apr 2003 1 Jul 2003 1 Oct 2003 1 Jan 2004 Period 1 Feb - 31 Mar 1 Apr - 30 Jun 1 Jul - 30 Sept 1 Oct - 31 Dec 1 Jan - 31 Mar Amount $1200 $1800 $1800 $2100 $2100
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 50% (2 reviews)
To determine the amount of rent that should be shown in the Profit and Loss Account for t...View the full answer
Answered By
Aketch Cindy Sunday
I am a certified tutor with over two years of experience tutoring . I have a passion for helping students learn and grow, and I firmly believe that every student has the potential to be successful. I have a wide range of experience working with students of all ages and abilities, and I am confident that I can help students succeed in school.
I have experience working with students who have a wide range of abilities. I have also worked with gifted and talented students, and I am familiar with a variety of enrichment and acceleration strategies.
I am a patient and supportive tutor who is dedicated to helping my students reach their full potential. Thank you for your time and consideration.
0.00
0 Reviews
10+ Question Solved
Related Book For
Question Posted:
Students also viewed these Business questions
-
Cornelius commenced business on 1 April 2002. He has not kept complete records of his transactions but he supplies the following information. Further information 1. Cornelius made payments of $371...
-
Cassie is baking cookies from scratch her recipe calls for 7/8 of a cup of sugar per batch if she is baking just 2/3 of a batch how much sugar should she use?
-
The following additional information is available for the Dr. Ivan and Irene Incisor family. The Incisors own a rental beach house in Hawaii. The beach house was rented for the full year during 2012...
-
Automobiles air bags are filled via the decomposition of sodium azide, according to the following equation: 2 NaN3 (s) 2 Na (s) +3 N2 (g) Calculate the work (in L atm) when 2.25 g of sodium azide...
-
a. Austin Industries has four divisions in two separate geographical areas. In the center region, the two divisions are Omaha and Kansas City. The southwest region has the other two divisions: Dallas...
-
What calculation is used when determining the overhead application rate under the direct labor hours method? The direct labor costs method?
-
When valuing minority interests in private companies, should appraisers normalize earnings? a. If yes, what kinds of normalizing adjustments should be made? b. What is the objective of making...
-
Analytics mindset Final Project 4 Gamification Part 1: Background You are the chief technology officer (CTO) of an international bank. A key component of your job is to manage risk within the bank...
-
Provide the missing data in the following table for a distributor of martial arts products: (Enter "Turnover" and "ROI" answers to 1 decimal place.) Division Alpha Charlie Sales Bravo $ 305,000 $...
-
A business has an accounting year that ends on 30 September. Its insurance premiums are paid in advance on 1 July each year. Premiums have been paid in the past three years as follows. Year I $1800...
-
Devram extracted a trial balance at 31 December 2003 from his books after he had prepared his Trading Account for the year ended on that date. It was as follows. Further information 1. At 31 December...
-
Is Richard Branson considered a transformational or transactional leader?
-
Moving Inc. wants to develop an activity flexible budget for the activity of moving materials. Moving Inc. uses forklifts to move materials from receiving to storeroom and then to production. The...
-
We are in the tail end of Quarter 3 earnings reporting season in the U.S. markets. Roughly 60 percent of companies that have reported their Q3 earnings so far have reported negative earnings relative...
-
Below is a running shock tube illustration. 0.1 0.0 | 0.0 4 4 Diaphragm 1 0.5 Image: Shock tube Initial setup 1 3 2 1 Expansion Head Expansion Tail Slip Shock Surface Image: Running Shock Tube...
-
As you may remember, Holiday Tree Services, Inc. (HTS) has recently entered into a contract with Delish Burger (Delish), whereby HTS is to supply and decorate a Christmas tree in each of Delish...
-
Understanding various types of leadership styles is important in order to determine personal leadership styles. Reflection: Answer both Compare and contrast 2 leadership styles. State the...
-
Which nation had the best macro performance in 2004-2014?
-
Use the method of Example 4.29 to compute the indicated power of the matrix. 1 0 1
-
How does the nature of the product relate to the degree of market exposure desired?
-
Why would intermediaries want to be exclusive distributors for a product? Why would producers want exclusive distribution? Would intermediaries be equally anxious to get exclusive distribution for...
-
Explain the present legal status of exclusive distribution. Describe a situation where exclusive distribution is almost sure to be legal. Describe the nature and size of competitors and the industry,...
-
Fig 1. Rolling a 4 on a D4 A four sided die (D4), shaped like a pyramid (or tetrahedron), has 4 flat surfaces opposite four corner points. A number (1, 2, 3, or 4) appears close to the edge of each...
-
I just need help with question #4 please! Thank you! Windsor Manufacturing uses MRP to schedule its production. Below is the Bill of Material (BOM) for Product A. The quantity needed of the part...
-
(25) Suppose that we have an economy consisting of two farmers, Cornelius and Wheaton, who unsurprisingly farm corn c and wheat w, respectively. Assume that both farmers produce their crop of choice...
Study smarter with the SolutionInn App