Barry has paid the following insurance bills in the year ended 31 December 2020: £3,000 for the 3 months ended 28 February 2020 £2,500 for the 3 months ended 31 May 2020 £3,500 for the 3 months ended 31 August 2020 £3,000 for the 3 months ended 30 November 2020 In March 2020 he received a bill for £3,000 for the 3 months ended 28 February 2021 What is the charge to P/L for rent for the year ended 31 December 2020? a) £10,500 b) £12,500 c) £14,000 d) £12,000
Barry has paid the following insurance bills in the year ended 31 December 2020: £3,000 for the 3 months ended 28 February 2020 £2,500 for the 3 months ended 31 May 2020 £3,500 for the 3 months ended 31 August 2020 £3,000 for the 3 months ended 30 November 2020 In March 2020 he received a bill for £3,000 for the 3 months ended 28 February 2021 What is the charge to P/L for rent for the year ended 31 December 2020? a) £10,500 b) £12,500 c) £14,000 d) £12,000
Chapter6: Business Expenses
Section: Chapter Questions
Problem 49P
Related questions
Question
Barry has paid the following insurance bills in the year ended 31 December 2020:
£3,000 for the 3 months ended 28 February 2020
£2,500 for the 3 months ended 31 May 2020
£3,500 for the 3 months ended 31 August 2020
£3,000 for the 3 months ended 30 November 2020
In March 2020 he received a bill for £3,000 for the 3 months ended 28 February 2021
What is the charge to P/L for rent for the year ended 31 December 2020?
a) £10,500
b) £12,500
c) £14,000
d) £12,000
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Individual Income Taxes
Accounting
ISBN:
9780357109731
Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT