Question
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates. 31 December 2018 three months rent owing amounted
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates.
- 31 December 2018 three months rent owing amounted to GH6,000.
- 31 December 2018 two months rates prepaid amounted to GH5,250.
- During the year 2019 cash paid for rent and rates amounted to GH90,000
- Rent owing as at 31 December 2019 amounts to GH9,000
- Rates prepaid as at 31 December 2019 amounts to GH2,250
Required: Prepare a combined rent and rates account to disclose the amount that is chargeable to the profit or loss account for the year ended 31 December, 2019.
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates.
- 31 December 2018 three months rent owing amounted to GH6,000.
- 31 December 2018 two months rates prepaid amounted to GH5,250.
- During the year 2019 cash paid for rent and rates amounted to GH90,000
- Rent owing as at 31 December 2019 amounts to GH9,000
- Rates prepaid as at 31 December 2019 amounts to GH2,250
Required: Prepare a combined rent and rates account to disclose the amount that is chargeable to the profit or loss account for the year ended 31 December, 2019.
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates.
- 31 December 2018 three months rent owing amounted to GH6,000.
- 31 December 2018 two months rates prepaid amounted to GH5,250.
- During the year 2019 cash paid for rent and rates amounted to GH90,000
- Rent owing as at 31 December 2019 amounts to GH9,000
- Rates prepaid as at 31 December 2019 amounts to GH2,250
Required: Prepare a combined rent and rates account to disclose the amount that is chargeable to the profit or loss account for the year ended 31 December, 2019.
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates.
- 31 December 2018 three months rent owing amounted to GH6,000.
- 31 December 2018 two months rates prepaid amounted to GH5,250.
- During the year 2019 cash paid for rent and rates amounted to GH90,000
- Rent owing as at 31 December 2019 amounts to GH9,000
- Rates prepaid as at 31 December 2019 amounts to GH2,250
Required: Prepare a combined rent and rates account to disclose the amount that is chargeable to the profit or loss account for the year ended 31 December, 2019.
Patricia Ltd prepares account to 31 December each year. The following transactions relate to Rent and Rates.
- 31 December 2018 three months rent owing amounted to GH6,000.
- 31 December 2018 two months rates prepaid amounted to GH5,250.
- During the year 2019 cash paid for rent and rates amounted to GH90,000
- Rent owing as at 31 December 2019 amounts to GH9,000
- Rates prepaid as at 31 December 2019 amounts to GH2,250
Required: Prepare a combined rent and rates account to disclose the amount that is chargeable to the profit or loss account for the year ended 31 December, 2019.
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