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What figures should appear in income statement

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Problem 1: Erica's business produces its financial statements for the year to 31 August. The business pays its rent quarterly in advance on 1 January, 1 April, 1 July and 1 October each year. The annual rent was increased from £45,600 to £51,600 per year with effect from 1 April 2020. In Erica's business's financial statements for the year ended 31 August 2020, what figures should appear in the Income Statement and Balance Sheet in relation to rent?

Reference no: EM132760169

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