Mr. Bing owned a flat in Mong Kok, and he let it to Mr. Quit for a two-year lease from 1 April 2016 to 31 March 2018 at a monthly rent of $30,000. Mr. Quit occupied the flat up to 30 April 2017 and disappeared. He did not pay rent for six months from November 2016 to April 2017. Mr. Bing took: back the flat on 1 May 2017 and let it to Mr. Lo or 1 September 2017 at a monthly rent of $15,000. Mr. Bing was responsible for and paid rates of $2,500 each quarter all the time. What is the refund of property tax of 2016/12 after revision?
Mr. Bing owned a flat in Mong Kok, and he let it to Mr. Quit for a two-year lease from 1 April 2016 to 31 March 2018 at a monthly rent of $30,000. Mr. Quit occupied the flat up to 30 April 2017 and disappeared. He did not pay rent for six months from November 2016 to April 2017. Mr. Bing took: back the flat on 1 May 2017 and let it to Mr. Lo or 1 September 2017 at a monthly rent of $15,000. Mr. Bing was responsible for and paid rates of $2,500 each quarter all the time. What is the refund of property tax of 2016/12 after revision?
Chapter5: Introduction To Business Expenses
Section: Chapter Questions
Problem 32P
Related questions
Question
Transcribed Image Text:Mr. Bing owned a flat in Mong Kok, and he let it
to Mr. Quit for a two-year lease from 1 April 2016
to 31 March 2018 at a monthly rent of $30,000.
Mr. Quit occupied the flat up to 30 April 2017 and
disappeared. He did not pay rent for six months
from November 2016 to April 2017. Mr. Bing took
back the flat on 1 May 2017 and let it to Mr. Lo on
1 September 2017 at a monthly rent of $15,000.
Mr. Bing was responsible for and paid rates of
$2,500 each quarter all the time.
What is the refund of property tax of 2016/17
after revision?
a. None of the other 3 is correct
b. 4,200
c. 6,800
d. 5,400
The correct answer is:
5,400
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 4 steps with 1 images
Recommended textbooks for you