Question
The following is the extract of Mike's trial balance as at 31 December 2017 DR, $ Rent 22 000 Insurance 30 000 The following notes
The following is the extract of Mike's trial balance as at 31 December 2017
DR, $
Rent 22 000
Insurance 30 000
The following notes have been provided:
The monthly rent charge is $2,000.
The annual insurance charge for the above year is $28,000.
Task:
a) What is the charge for rent and insurance for the year?
b) What is the closing accrual and prepayment?
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
