Question
Accounting help. please explain At 31 December 20X5 the following require inclusion in a company's financial statements. (1) On 1 January 20X5 the company made
Accounting help. please explain
At 31 December 20X5 the following require inclusion in a company's financial statements.
(1) | On 1 January 20X5 the company made a loan of $12,000 to an employee, repayable on 1 January 20X6, charging interest at 2% per year. On the due date she repaid the loan and paid the whole of the interest due on the loan to that date |
(2) | The company paid an annual insurance premium of $9,000 in 20X5, covering the year ending 31 August 20X6 |
(3) | In January 20X6 the company received rent from a tenant of $4,000 covering the six months to 31 December 20X5 |
For these items, what total figures should be included in the company's statement of financial position at 31 December 20X5?
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