A company receives rent for subletting part of its office block.
Rent, receivable quarterly in advance, is received as follows:
Date of receipt eriod covered $ 1 October 2001 3 months to 31 December 2001 7,500 30 December 2001 31 March 2002 7,500 4 April 2002 30 June 2002 9,000 1 July 2002 30 September 2002 9,000 1 October 2002 31 December 2002 9,000 What figures, based on these receipts, should appear in the company’s financial statements for the year ended 30 November 2002? Income statement Balance sheet A $34,000 Debit Prepayment (Dr) $3,000 B $34,500 Credit Accrual (Cr) $6,000 C $34,000 Credit Accrual (Cr) $3,000 D $34,000 Credit Prepayment (Dr) $3,000
C $2,500 + $7,500 + $9,000 + $9,000 + $6,000 One month in advance = $3,000 Cr.作者: 张俊平 时间: 2008-7-16 12:32
eriod covered $