Question
The following figures related to the rent and rates
payable expense for a business in 2020-2021. Which is the correct figure for rent and rate expense in the profit and loss account for the year ended 31 March 2021? Rent paid in advance at 1 April 2020 Rs.5000 Rates in arreas at 1 April 2020 Rs.2000 Payments in 2020-21 Rs.35000 Prepaid rent at 31 March 2021 Rs.4000 Rent in arrears at 31 March 2021 Rs.6000Solution
Rent and rate expense in the profit and loss account = Payments + Rent paid in advance on 1 April 2020 – Rent prepaid on 31 March 2021 – Arrears on 1 April 2020 + Arrears on 31 March 2021 = 35000 +5000 -4000 -2000 +6000 = Rs.40000
Commerce and Industry Minister Piyush Goyal said that the country is on track to achieve the export target set for goods and services in the ongoing fi...
Where was the 12th Meeting of the Board of Directors of Karmayogi Bharat held?
What is the share of workers living in extreme poverty globally, earning less than $3 per day, according to the ILO 2026 report?
What is the primary purpose of the Munal satellite, which is set to be launched with the support of the Ministry of External Affairs (MEA) and NewSpace ...
What is the main objective of the “RBI Kehta hai” Campaign?
Through which United Nations General Assembly resolution was the International Day of Reflection on the 1994 Genocide Against the Tutsi in Rwanda design...
What is the theme of the Global Energy Leaders’ Summit (GELS) 2025?
Which three Indian states collectively contribute 55% of the country's total pulses production?
What percentage of India's over 64,000 patent filings were by resident Indian innovators?
What is the primary aim of the ‘One Nation, One Election’ initiative?