In addition to its trading activities a business earns substantial amounts as rent, particulars of which are
Question:
In addition to its trading activities a business earns substantial amounts as rent, particulars of which are stated on the left. Rent received during 2012 was £54,800. Identify the rental income it should report on its Statement of income for the year 2012.
Transcribed Image Text:
As at 31 December Rent received in advance Rent in arrears 2011 2012 £9,800 £5,400 £21,500 £32,600
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (6 reviews)
Answered By
Ali Khawaja
my expertise are as follows: financial accounting : - journal entries - financial statements including balance sheet, profit & loss account, cash flow statement & statement of changes in equity -consolidated statement of financial position. -ratio analysis -depreciation methods -accounting concepts -understanding and application of all international financial reporting standards (ifrs) -international accounting standards (ias) -etc business analysis : -business strategy -strategic choices -business processes -e-business -e-marketing -project management -finance -hrm financial management : -project appraisal -capital budgeting -net present value (npv) -internal rate of return (irr) -net present value(npv) -payback period -strategic position -strategic choices -information technology -project management -finance -human resource management auditing: -internal audit -external audit -substantive procedures -analytic procedures -designing and assessment of internal controls -developing the flow charts & data flow diagrams -audit reports -engagement letter -materiality economics: -micro -macro -game theory -econometric -mathematical application in economics -empirical macroeconomics -international trade -international political economy -monetary theory and policy -public economics ,business law, and all regarding commerce
4.00+
1+ Reviews
10+ Question Solved
Related Book For
Financial Accounting An Introduction
ISBN: 9780273737650
2nd Edition
Authors: Mr Barry Elliott, Mr Augustine Benedict
Question Posted:
Students also viewed these Business questions
-
A computer engineer is designing a cache memory system for a computer processor with a 64-bit address space. a) Calculate the number of cache sets in the cache memory if the cache size is 512 KB, the...
-
Assume that the company uses absorption costing: a. Compute the unit product cost. b. Prepare an income statement for the year. 2. Assume that the company uses variable costing: a. Compute the unit...
-
Read the case study "Southwest Airlines," found in Part 2 of your textbook. Review the "Guide to Case Analysis" found on pp. CA1 - CA11 of your textbook. (This guide follows the last case in the...
-
Coin Flips You flip a coin 100 times and get 58 heads and 42 tails. Calculate the chi-square statistic by hand showing your work, assuming the coin is fair.
-
1 Why is the functional organisation prevalent in modern business?
-
Budgeting for variable manufacturing overhead requires a knowledge of cost drivers. Name three possible cost drivers. ji5
-
Find the probability that a worker chosen at random was employed in the manufacturing industry.
-
Western Wood Products Company prepared the following factory overhead cost budget for the Press Department for February 2010, during which it expected to require 10,000 hours of productive capacity...
-
Leeter D Purchase-Related Transactions Stylon Co., a women's clothing store, purchased 548,000 of merchandise from a supplier on account, terms FOB destination, 2/10, 1/30, using the net method under...
-
Statements of financial position of Pilchard Ltd are given below: You are informed as follows: (i) Shown is an extract of the Statement of income for the year ended 31.3.2012. (ii) There was no...
-
According to the bank statement summary for the year, cheques for 14,800 have been drawn in the name of the landlord. However, a landlords cheque for 1,200 had not been presented for payment at the...
-
A 1.6-mCi source of 3215P (in NaHPO4), a emitter, is implanted in a tumor where it is to administer 32 Gy. The half-life of 3215P is 14.3 days, and 1.0 mCi delivers about 10 mGy/min. Approximately...
-
You want to retire after working 35 years with savings in excess of $1,100,000. You expect to save $3,300 a year for 35 years and earn an annual rate of Interest of 11%. (Round your answer to 2...
-
FOLLOW ALL INSTRUCTIONS AND GENERATE YOUR CODE AFTER READING THE JUNIT TESTS, THAT IS ALL THE METHODS AND CONSTRUCTORS YOU USE SHOULD BE BASED ON THE JUNIT TESTS PROVIDED. I HAVE ATTATCHED THE JAVA...
-
Are some values in the class data grossly different from all the others? If so, check for errors in calculation or procedure that would allow to objectively eliminate the data. 2. Do the range values...
-
An aging analysis of Uli Limited's accounts receivable at December 3 1 , 2 0 2 4 and 2 0 2 3 , showed the following: Number of Days Outstanding Accounts Receivable Estimated Percentage Uncollectible...
-
(Linear momentum) Two jets of liquid, one with specific gravity 1.00 and the other with specific gravity 1.33, collide and form one homogeneous jet as shown in the figure below. Determine (a) the...
-
How does glass act like a one-way valve for a conventional greenhouse? Does the atmosphere similarly act as a one-way valve?
-
Explain how two samples can have the same mean but different standard deviations. Draw a bar graph that shows the two samples, their means an standard deviations as error bars. T S
-
Go to the library (or get on the Internet) and find (in some government publication or website) three marketing-oriented facts on international markets that you did not know existed or were...
-
Texmac, Inc., has an idea for a new type of weaving machine that could replace the machines now used by many textile manufacturers. Texmac has done a telephone survey to estimate how many of the...
-
Discuss several ways in which physical goods are different from pure services. Give an example of a good and then an example of a service that illustrates each of the differences.
-
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