A company pays rent quarterly in arrears on 1 January, 1 April, 1 July and 1 October each year. The rent was increased from $90,000 per year to $120,000 per year as from 1 October 20X2.
What rent expense and accrual should be included in the company's financial statements for the year ended 31 January
20X3?
Rent expense??????? ?Accrual
$??????????????????????????????? $
?$
February to March 20X2 (22,500 x 2/3)?15,000
April to June?22,500
July to September?22,500
October to December?30,000
January 20X3 (30,000 x 1/3)?10,000
Rent for the year?100,000Accrual 30,000 x 1/3 = 10,000
多做幾道
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
Which accounting concept should be considered if the owner of a business takes goods from inventory for his own personal
use?
According to the IASB's Conceptual Framework for Financial Reporting, which TWO of the following are part of faithful
representation?1 It is neutral2 It is relevant3 It is presented fairly4 It is free from material error
Which of the following accounting concepts means that similar items should receive a similar accounting treatment?
Listed below are some characteristics of financial information.1 Relevance2 Consistency3 Faithful representation4 Accuracy
Which of these are qualitative characteristics of financial information according to the IASB's Conceptual Framework for
Financial Reporting?
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