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Calculate the rates expense for financial year ended dec

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Reference no: EM132950108

A firm records all transactions relating to the business rates during the financial year 1 January 2020 to December 2020. On 1 January 2020 there was a prepayment of £500 in respect of rates. On 31 December 2020 rates of £800 had been prepaid. During the year £3,600 was paid in respect of rates.

Problem 1: Calculate the rates expense for the financial year ended 31 December 2020

Reference no: EM132950108

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