A company owns a number of properties which are rented to tenants. The following information is available for the year ended 30 June 2006: Rent Rent in advance in arrears $ $ 30 June 2005 134,600 4,800 30 June 2006 144,400 8,700 Cash received from tenants in the year ended 30 June 2006 was $834,600. 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? A $840,500 B $1,100,100 C $569,100 D $828,700
A company owns a number of properties which are rented to tenants. The following information is available for the year ended 30 June 2006: Rent Rent in advance in arrears $ $ 30 June 2005 134,600 4,800 30 June 2006 144,400 8,700 Cash received from tenants in the year ended 30 June 2006 was $834,600. 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? A $840,500 B $1,100,100 C $569,100 D $828,700
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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:
Rent Rent
in advance in arrears
$ $
30 June 2005 134,600 4,800
30 June 2006 144,400 8,700
Cash received from tenants in the year ended 30 June 2006 was $834,600.
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?
A $840,500
B $1,100,100
C $569,100
D $828,700
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