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Please answer the questions 10.9, 10.10 and 10.11 with your detailed explanations, it's much appreciated! 9 A business compiling its financial statements for the year
Please answer the questions 10.9, 10.10 and 10.11 with your detailed explanations, it's much appreciated!
9 A business compiling its financial statements for the year to 31 January pays rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. After remaining unchanged for some years, the rent was increased from $24,000 per year to $30,000 per year as from 1 July 200. Which of the following figures is the rent expense which should appear in the statement of profit or loss for year ended 31 January 20X1? $27,500$29,500$28,000$29,000 10 Blint, a limited liability company, receives rent for subletting part of its office premises to a number of tenants. In the year ended 31 December 204 Blint received cash of $318,600 from its tenants. Details of rent in advance and in arrears at the beginning and end of 204 are as follows: All rent owing was subsequently received. What is the figure for rental income that Blint should include in its statement of profit or loss for 204? $ 11 During 204, Hild Co paid a total of $60,000 for rent, covering the period from 1 October 20X3 to 31 March 20X5. What balances should appear in Hild Co's financial statements for the year ended 31 December 204? 9 A business compiling its financial statements for the year to 31 January pays rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. After remaining unchanged for some years, the rent was increased from $24,000 per year to $30,000 per year as from 1 July 200. Which of the following figures is the rent expense which should appear in the statement of profit or loss for year ended 31 January 20X1? $27,500$29,500$28,000$29,000 10 Blint, a limited liability company, receives rent for subletting part of its office premises to a number of tenants. In the year ended 31 December 204 Blint received cash of $318,600 from its tenants. Details of rent in advance and in arrears at the beginning and end of 204 are as follows: All rent owing was subsequently received. What is the figure for rental income that Blint should include in its statement of profit or loss for 204? $ 11 During 204, Hild Co paid a total of $60,000 for rent, covering the period from 1 October 20X3 to 31 March 20X5. What balances should appear in Hild Co's financial statements for the year ended 31 December 204Step by Step Solution
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