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REQUIRED Record the adjustment joumal entry in respect of rent income in the bodis of NT Stores as at 28 Fobruary 2022. (4 marks) INFORMATION
REQUIRED Record the adjustment joumal entry in respect of rent income in the bodis of NT Stores as at 28 Fobruary 2022. (4 marks) INFORMATION The Rent Income account of NT Stores reflected a total of R276 000 on 28 February 2022, the end of the accounting period. This was in resped of rent for an office occupied by a tenant for the entire financial year. The monthly rental was increased by 10% with effect from 01 September 2021 . The rent for February 2022 was due to be received on 01 March 2022. Use the information provided below to calculate the value of Non-Current Liabilities and Current Liabilities in the Statement of Financial Position of Lenovo Traders as at 28 February 2022 (4 marks) INFORMATION The following balances appeared in the Post-Closing Trial Balance of Lenovo Traders on 28 February 2022 , the end of the financial year: Note: R180 000 of the mortgage bond balance is payable during the financial year ended 28 February 2023
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