34 Zeema's financial year ends on 30 September. She sublets part of her premises to Faith at anannual rent of $6600.On 1 October 20-3, Faith owed one month's rent. During the year ended 30 September 20-4,Faith paid rent of $8250.Write up Zeema's rent receivable account for the year ended 30 September 20-4. Balance theaccount and show the amount transferred to the income statement.ab Prepare a relevant extract from Zeema's income statement for the year ended30 September 20–4.5 Mandeep's financial year ends on 30 June.On 1 January 20-4, Mandeep sublet part of his premises to Mahender at an annual rent of $2600,payable quarterly in advance. Mandeep received bank transfers from Mahender representingthree month's rent on 1 January, 1 April and 30 June 20-4.

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Zeema's financial year ends on 30 September. She sublets part of her premises to Faith at an annual rent of $6600. On 1 October 20-3, Faith owed one month's rent. During the year ended 30 September 20-4, Faith paid rent of $8 250. a Write up Zeema's rent receivable account for the year ended 30 September 20-4. Balance the account and show the amount transferred to the income statement. b Prepare a relevant extract from Zeema's income statement for the year ended 30 September 20–4.

Zeema's financial year ends on 30 September. She sublets part of her premises to Faith at an annual rent of $6600. On 1 October 20-3, Faith owed one month's rent. During the year ended 30 September 20-4, Faith paid rent of $8 250. a Write up Zeema's rent receivable account for the year ended 30 September 20-4. Balance the account and show the amount transferred to the income statement. b Prepare a relevant extract from Zeema's income statement for the year ended 30 September 20–4.

Cornerstones of Financial Accounting

4th Edition

ISBN:9781337690881

Author:Jay Rich, Jeff Jones

Publisher:Jay Rich, Jeff Jones

Chapter5: Sales And Receivables

Section: Chapter Questions

Problem 79BPSB

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