Maurice Tutor

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Algebra,Applied Sciences,Biology,Calculus,Chemistry,Economics,English,Essay writing,Geography,Geology,Health & Medical,Physics,Science Hide all
Teaching Since: May 2017
Last Sign in: 401 Weeks Ago, 4 Days Ago
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Education

  • MCS,PHD
    Argosy University/ Phoniex University/
    Nov-2005 - Oct-2011

Experience

  • Professor
    Phoniex University
    Oct-2001 - Nov-2016

Category > Accounting Posted 03 Aug 2017 My Price 5.00

prepayment

Theta prepares its financial statements for the year to 30 April each year. The company pays rent for its premisesquarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was $84,000 per yearuntil 30 June 20X5. It was increased from that date to $96,000 per year.What rent expense and end of year prepayment should be included in the financial statements for the year ended30 April 20X6?Expense PrepaymentA $93,000 $8,000B $93,000 $16,000C $94,000 $8,000D $94,000 $16,00047 Alpha received a statement of account from a supplier Beta, showing a balance to be paid of $8,950. Alpha’spurchase ledger account for Beta shows a balance due to Beta of $4,140.Investigation reveals the following:(1) cash paid to Beta of $4,080 has not been accounted for by Beta(2) Alpha’s ledger account has not been adjusted for $40 of cash discount disallowed by BetaWhat discrepancy remains between Alpha’s and Beta’s records after allowing for these items?A nilB $690C $770D $730

Answers

Maurice Tutor
(5)
Status NEW Posted 03 Aug 2017 08:08 PM My Price 5.00

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