Question
A business has taken out an annual licence at a cost of 8,496 which covers the period 01/08/X1 to 31/07/X2. Their year end is 28/02/X2.
A business has taken out an annual licence at a cost of 8,496 which covers the period 01/08/X1 to 31/07/X2. Their year end is 28/02/X2.
What is the value of the prepayment adjustment required at 28/02/X2? (Round to the nearest whole number)
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Managerial Accounting An Introduction to Concepts Methods and Uses
Authors: Michael W. Maher, Clyde P. Stickney, Roman L. Weil
10th Edition
1111822239, 324639767, 9781111822231, 978-0324639766
