unit 5
meibaker
Registered Posts: 481 Dedicated contributor 🦉
Q: the accurals in the list balance is 1,000 for the rent. the figure for rent in the bank summary is 15,000, includes 3,000 for the quarter starting 1 oct 2007
prepare the rent account, showing clearly the rent for the year ended 31 oct 2007
answer:
cash 15,000 b/d 1,000
rent for year ended 12,000
c/d 3,000x 2/3= 2,000
but there is only one month until the year ended, so should be 3,000x 1/3= 1,000, and rent for year ended should be 13,000,
where did i go wrong? please help
prepare the rent account, showing clearly the rent for the year ended 31 oct 2007
answer:
cash 15,000 b/d 1,000
rent for year ended 12,000
c/d 3,000x 2/3= 2,000
but there is only one month until the year ended, so should be 3,000x 1/3= 1,000, and rent for year ended should be 13,000,
where did i go wrong? please help
0
Comments
-
I may be wrong but is this it??
Rent A/c
Dr Bank 15000
Cr Balance B/d 1000
Dr Carried down Balance 2000
Cr P+L Rent for year 16000
leaving a balance b/d cr of 2000
?????????????0 -
think you might be wrong, the answer should be:
Dr cash 15,000 Cr b/d 1,000
Cr rent for year ended 12,000
c/d 3,000x 2/3= 2,000
so the rent for the year ended 12,000.0
Categories
- All Categories
- 1.2K Books to buy and sell
- 2.3K General discussion
- 12.5K For AAT students
- 318 NEW! Qualifications 2022
- 161 General Qualifications 2022 discussion
- 11 AAT Level 2 Certificate in Accounting
- 56 AAT Level 3 Diploma in Accounting
- 87 AAT Level 4 Diploma in Professional Accounting
- 8.8K For accounting professionals
- 23 coronavirus (Covid-19)
- 272 VAT
- 92 Software
- 273 Tax
- 135 Bookkeeping
- 7.2K General accounting discussion
- 200 AAT member discussion
- 3.8K For everyone
- 38 AAT news and announcements
- 345 Feedback for AAT
- 2.8K Chat and off-topic discussion
- 582 Job postings
- 16 Who can benefit from AAT?
- 36 Where can AAT take me?
- 42 Getting started with AAT
- 26 Finding an AAT training provider
- 48 Distance learning and other ways to study AAT
- 25 Apprenticeships
- 66 AAT membership