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Please answer the questions 10.4, 10.5 and 10.6 with your detailed explanations, it's much appreciated! 4 Jelly Co has sublet part of its offices and
Please answer the questions 10.4, 10.5 and 10.6 with your detailed explanations, it's much appreciated!
4 Jelly Co has sublet part of its offices and in the year ended 30 November 203 the rent receivable was: Until 30 June 20X3 $8,400 per year From 1 July 203 $12,000 per year Rent was paid quarterly in advance on 1 January, April, July, and October each year. What entries should appear in Jelly Co's financial statements for the year ended 30 November 20X3? 5 A business compiling its financial statements for the year to 31 July each year pays rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was increased from $60,000 per year to $72,000 per year as from 1 October 20X3. What amount should appear for rent expense in the business's statement of profit or loss for the year ended 31 July 204 ? $69,000$62,000$70,000 One of the products a garage sells to motorists is diesel fuel. Diesel fuel in inventory at 1 November 20X7 was $12,500, and there were invoices awaited for $1,700. During the year to 31 October 208, diesel fuel invoices of $85,400 were paid, and a delivery worth $1,300 had yet to be invoiced. (This was the only outstanding balance on the diesel fuel payable account at the year end). At 31 October 208, the inventory of diesel fuel was valued at $9,800. What is the value of diesel fuel to be charged to the garage's statement of profit or loss for the year to 31 October 20X8? $87,700$89,400$88,500Step by Step Solution
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