Answered step by step
Verified Expert Solution
Question
1 Approved Answer
4. A non-current asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the
4. A non-current asset with a cost of $30,000 and accumulated depreciation of $27,500 is sold for $3,500. What is the amount of the gain or loss on disposal of the fixed asset? A. $2,500 loss B. $1,000 loss C. $2,500 gain 5. D. $1,000 gain A business compiling its financial statements for the year to 31 July each pays rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was increased from RM48,000 per year to RM72,000 per year as from 1 October 2019. What figure should appear for rent expense in the business's statement of profit or loss and other comprehensive income for the year ended 31 July 2019? A. RM66,000 B. RM60,000 C. RM68,000 6. D. RM56,000 A company has sublet part of its office and in the year ended 30 November 2019 the rent receivable was: Until 30 June 2019 RM8, 400 per year From 1 July 2019 RM9, 600 per year Rent was paid quarterly in advance on 1 January, April, July, and October each year. What amounts should appear in the company's financial statements for the year ended 30 November 2013. Rent receivable A. B. ABCD RM8,900 RM8,900 C. RM9,000 D. RM9,000 Statement of financial position RM1,600 in sundry payables/accruals RM800 in sundry payables/accruals RM800 in sundry payables/accruals RM1,600 in sundry receivables/accrued income
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started