Income statement, Accounting Basics

Assignment Help:

A company pays rates annually/yearly in advance on 1 April every year. $4000 is paid by them on 1 April 2009 and $4800 on 1 April year 2010. The company's accounting year end is 31 December.  

What is the charge for rates in the 2010 income statement?

a) $4000 

b) $4200 

c) $ 4600 

d)$4800


Related Discussions:- Income statement

Continuity concept, Accounting supposes that the business as an accounting ...

Accounting supposes that the business as an accounting entity will continue to operate for a long time in the future, unless there is superior evidence to the contrary. The enterpr

Analyzing and using the financial results, The two fundamental sources of e...

The two fundamental sources of equity in a company are stockholders and creditors their combined interests are called total equities. To discover the equity ratio divide stockholde

Prepare a trial balance, Prepare a trial balance All account names w...

Prepare a trial balance All account names would be listed in left-hand column. Place the account balance in appropriate debit or credit column for those accounts which have

Identify the errors, Company A has only been in existence for two full year...

Company A has only been in existence for two full years as a public company. Prior to this, it was a segment of large multinational and was spun off as stand-alone, public company.

Describe the cost of sales, Q. Describe the Cost of sales? Cost of sale...

Q. Describe the Cost of sales? Cost of sales, cost of goods sold -- expense or cost of all items sold during an accountingperiod. Every unit sold has a cost of sales or cost of

Computerised accounting systems, The organization's name is Coffee Affectio...

The organization's name is Coffee Affectionardo Pty Ltd and the company imports and sell various  types  of coffee  machines, grinders,  filters and beans. The business has two dir

Learning objectives of accounting theory, Q. Learning objectives of Account...

Q. Learning objectives of Accounting theory? - Discuss and Identify the underlying assumptions or else concepts of accounting. - Discuss and Identify the main principles of

Principles of Taxation for Business and Investment Planning, Compare and co...

Compare and contrast AICPA SSTS to Circular 230 related to knowledge of client''s omission.

Assume tc stands for total cost, 1. Fill in the table below.  Assume TC sta...

1. Fill in the table below.  Assume TC stands for Total Cost, TFC as Total Fixed Cost, TVC as Total Variable Cost, ATC as Average Total Cost, AFC as Average Fixed Cost, AVC as Aver

Measurement process in accounting, Earlier we defined accounting as the pro...

Earlier we defined accounting as the process of measuring, identifying and communicating economic information to permit informed judgments and decisions by the users of the informa

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd