4. Rent paid during the year 16,500. Compute the Rent for the year 2020 from the following:
1.04.2019
1.04.2020
Outstanding Rent
*800
*700
Prepaid Rent
*400
*500
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Answer:
Actual amount of rent shown in income and expenditure as
rent paid. = 16500
(-) O/s rent
on 1.4.2019=. 800
(+) O/s rent
on 1.4.2020. 700
(+) prepaid rent
on 1.4.2019 =. 400
(-) prepaid rent
in1.4.2020 =. 500
= ..16300
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