8.A company pays rent quarterly in arrears on I January, I April, 1 July and 1 October each year. The rent was increased from RM90,000 per year to RM120,000 per year as from 1 October 2012. What rent expense and accrual should be included in the company's financial statements for the year ended 31 January 2013? a) Rental expense RM100,000 ; Accrual RM10,000 b) Rental expense RM100,000 ; Accrual RM20,000 c) Rental expense RM97,500 ; Accrual RM20,000 d) Rental expense RM97,500 ; Accrual RM10,000

8.A company pays rent quarterly in arrears on I January, I April, 1 July and 1 October each year. The rent was increased from RM90,000 per year to RM120,000 per year as from 1 October 2012. What rent expense and accrual should be included in the company's financial statements for the year ended 31 January 2013? a) Rental expense RM100,000 ; Accrual RM10,000 b) Rental expense RM100,000 ; Accrual RM20,000 c) Rental expense RM97,500 ; Accrual RM20,000 d) Rental expense RM97,500 ; Accrual RM10,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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