A basic test on prepayments:
You
are working on the accounting records of a business for the year ended 31 March
20X7. You are looking at the rent expense for the year and this includes
payments for the following periods:
|
Apr
20X6 – May 20X7- Office 1 |
£5,040 |
|
Apr
20X6 – Jan 20X7- Office 2 |
£5,500 |
|
Jul
20X6 – Jun 20X7- New Office |
£7,380 |
Identify
the prepayments that need to be posted into the accounts?
|
Account
name |
Amount
(£) |
Dr/
Cr |
|
|
|
|
|
|
|
|
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