Day: September 13, 2022

The following information is extracted from the records of a business.

• At 31 December 2014 – Rent paid in advance £4,000
• During the year ended 31 December 2015 – Rent paid £41,000
• At 31 December 2015 – Rent paid in advance £7,000

How much will be debited for rent in the Profit and Loss Account for the year ended 31 December 2015?

Select ONE answer:

1. £34,000
2. £38,000
3. £41,000
4. £44,000

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 2

1. Not correct
2. Correct– – £4k + £41k – £7k
3. Not correct
4. Not correct

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