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

Accounting in india, procedure followed in government system of accounting ...

procedure followed in government system of accounting in india

Advantages of weighted-average, Q. Advantages of Weighted-average? Weig...

Q. Advantages of Weighted-average? Weighted-average: Advantages because of the averaging process the effects of year-end buying or not buying is lessened. Drawback Manipulation

What is sales revenues, Q. What is Sales revenues? The sale of goods ta...

Q. What is Sales revenues? The sale of goods takes place between two parties. The seller of the merchandise transfers them to the buyer in exchange for cash or a promise to pay

What do you recognize by intercompany settlement, A key functional area of ...

A key functional area of SAP for Utilities that supports cross-company exchange of settlement data based on international standards like as EDI, XML, and Microsoft Excel. Interc

Creating a two player web based game, Required: An implementation of...

Required: An implementation of a two player game. Keep the game simple ROCK PAPER SCOSSORS A two player game, each player on a different browser instance.  (pro

Money measurement concept, In accounting, only those facts that can be expr...

In accounting, only those facts that can be expressed in terms of money are recorded. When money is accepted not merely as a medium of exchange but also as a measuring rod of value

Give the journal entry to correct scranton''s books , On 11/1/05 the Scrant...

On 11/1/05 the Scranton Electric Company issued a check in the amount of $36,000 to the Fly By Night Insurance Company. The amount represented the total premiums on a liability ins

Marginal costing, Which statements about marginal costing are correct? 1...

Which statements about marginal costing are correct? 1. The marginal cost of a product involves an allowance for fixed overheads. 2. The marginal cost of a product presents t

Abc company uses cash basis accounting for its records., ABC Company uses c...

ABC Company uses cash basis accounting for its records. During 2010, ABC collected $400,000 from its customers, made payments of $300,000 to its suppliers for inventory, and paid

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