A company has sublet part of its offices and in the year ended 30 November 20X3 the rent receivable was: Until 30 June 20X3 $8,400 per year From 1 July 20X3 $12,000 per year Rent was paid quarterly in advance on 1 January, April, July, and October each year. What amounts should appear in the company's financial statements for the year ended 30 November 20X3? Rent receivable Statement of financial position A. $9,900 $2,000 in sundry payables B. $9,900 $1,000 in sundry payables C. $10,200 $1,000 in sundry payables D. $9,900 $2,000 in sundry receivables
A company has sublet part of its offices and in the year ended 30 November 20X3 the rent receivable was: Until 30 June 20X3 $8,400 per year From 1 July 20X3 $12,000 per year Rent was paid quarterly in advance on 1 January, April, July, and October each year. What amounts should appear in the company's financial statements for the year ended 30 November 20X3? Rent receivable Statement of financial position A. $9,900 $2,000 in sundry payables B. $9,900 $1,000 in sundry payables C. $10,200 $1,000 in sundry payables D. $9,900 $2,000 in sundry receivables
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
Related questions
Question
A company has sublet part of its offices and in the year ended 30 November 20X3 the rent receivable was:
Until 30 June 20X3 $8,400 per year From 1 July 20X3 $12,000 per year
Rent was paid quarterly in advance on 1 January, April, July, and October each year.
What amounts should appear in the company's financial statements for the year ended 30 November 20X3?
|
Rent receivable |
Statement of financial position |
|
A. $9,900 |
$2,000 in sundry payables |
|
B. $9,900 |
$1,000 in sundry payables |
|
C. $10,200 |
$1,000 in sundry payables |
|
D. $9,900 |
$2,000 in sundry receivables |
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