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A company owns a number of properties which are rented to tenants. The following information is available for the year ended 30 June 2006:
A company owns a number of properties which are rented to tenants. The following information is available for the year ended 30 June 2006: 30 June 2005 30 June 2006 Rent in advance $323,040 $346,560 Rent in arrears $11,520 $20,880 Cash received from tenants in the year ended 30 June 2006 was $2,003,040. All rent in arrears was subsequently received. What figure should appear in the company's Statement of Profit or Loss for rent receivable in the year ended 30 June 2006?
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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
