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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
Why to and by using in journal, trading a/c, p&l a/c and ledger?
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what will be the journal entry for this: A debit memo from the bank was received for bank charges P200.00
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