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

What do you mean by consigned goods, Q. What do you mean by consigned goods...

Q. What do you mean by consigned goods? FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accus

Generally accepted accounting principles, GAAP that is Generally Accepted A...

GAAP that is Generally Accepted Accounting Principles encompass the conventions, rules and processes necessary to explain accepted accounting practice at an exact time........gener

Accounting concept, what is the implication of applying accounting concept ...

what is the implication of applying accounting concept wrongly

How to create account for barter transactions?, How to create account for b...

How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.

What is uses of purchases journal, What is uses of Purchases journal ...

What is uses of Purchases journal Purchases journal (SPECIAL JOURNAL) Used to record only credit purchases of merchandise-may be only one column which is posted to two accou

Advantage of a pre-inventory sale, Q. Advantage of a pre-inventory sale? ...

Q. Advantage of a pre-inventory sale? Have you still taken advantage of a pre-inventory sale at your favourite retail store Many stores offer bargain prices to decrease the mer

Example of current ratio, Q. Example of current ratio? The current asse...

Q. Example of current ratio? The current assets and current liabilities and current ratios of some other companies as of the third quarter of 2001 were As you are able to se

Example of net realizable value, Example of net realizable value? To ex...

Example of net realizable value? To exemplify a necessary write-down in the cost of inventory presume that an automobile dealer has a demonstrator on hand. The dealer obtained

Determine the specific citation for accounting, Determine the specific cita...

Determine the specific citation for accounting for each of the following items: 1. Accounts receivables from related parties should be shown separately from trade receivables. 2. T

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