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Rent paid on 1st october,2015 for one year upto 30th September,2016 was 2400. Rent paid on 1st october,2016 for the year upto 30th September,2017 was 3200. Rent shown in profit and loss account for the year ended on 31st December, 2016 would be?
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Rent paid on 1st october,2015 for one year upto 30th September,2016 wa...
Calculation of Rent for the Year Ended on 31st December 2016:
To calculate the rent shown in the profit and loss account for the year ended on 31st December 2016, we need to consider the time period for which the rent is applicable and allocate it accordingly.
Rent paid on 1st October 2015 is applicable for a period of one year up to 30th September 2016. Similarly, rent paid on 1st October 2016 is applicable for a period of one year up to 30th September 2017.
Step 1: Calculate the Rent for the Year Ended on 31st December 2016:
To calculate the rent for the year ended on 31st December 2016, we need to allocate the rent paid on 1st October 2015 for the period from 1st October 2015 to 31st December 2015.
Rent per month = Rent paid / Number of months
Rent per month = 2400 / 12 = 200
Rent for the period from 1st October 2015 to 31st December 2015 = Rent per month * Number of months
Rent for the period from 1st October 2015 to 31st December 2015 = 200 * 3 = 600
Step 2: Add the Rent for the Year Ended on 31st December 2016:
Rent for the year ended on 31st December 2016 = Rent paid on 1st October 2016 + Rent for the period from 1st October 2015 to 31st December 2015
Rent for the year ended on 31st December 2016 = 3200 + 600 = 3800
Step 3: Rent Shown in the Profit and Loss Account for the Year Ended on 31st December 2016:
The rent shown in the profit and loss account for the year ended on 31st December 2016 would be the rent for the year ended on 31st December 2016.
Rent shown in the profit and loss account for the year ended on 31st December 2016 = Rent for the year ended on 31st December 2016
Rent shown in the profit and loss account for the year ended on 31st December 2016 = 3800
Therefore, the rent shown in the profit and loss account for the year ended on 31st December 2016 is 3800.
To calculate the rent shown in the profit and loss account for the year ended on 31st December 2016, we need to consider the time period for which the rent is applicable and allocate it accordingly.
Rent paid on 1st October 2015 is applicable for a period of one year up to 30th September 2016. Similarly, rent paid on 1st October 2016 is applicable for a period of one year up to 30th September 2017.
Step 1: Calculate the Rent for the Year Ended on 31st December 2016:
To calculate the rent for the year ended on 31st December 2016, we need to allocate the rent paid on 1st October 2015 for the period from 1st October 2015 to 31st December 2015.
Rent per month = Rent paid / Number of months
Rent per month = 2400 / 12 = 200
Rent for the period from 1st October 2015 to 31st December 2015 = Rent per month * Number of months
Rent for the period from 1st October 2015 to 31st December 2015 = 200 * 3 = 600
Step 2: Add the Rent for the Year Ended on 31st December 2016:
Rent for the year ended on 31st December 2016 = Rent paid on 1st October 2016 + Rent for the period from 1st October 2015 to 31st December 2015
Rent for the year ended on 31st December 2016 = 3200 + 600 = 3800
Step 3: Rent Shown in the Profit and Loss Account for the Year Ended on 31st December 2016:
The rent shown in the profit and loss account for the year ended on 31st December 2016 would be the rent for the year ended on 31st December 2016.
Rent shown in the profit and loss account for the year ended on 31st December 2016 = Rent for the year ended on 31st December 2016
Rent shown in the profit and loss account for the year ended on 31st December 2016 = 3800
Therefore, the rent shown in the profit and loss account for the year ended on 31st December 2016 is 3800.
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Rent paid on 1st october,2015 for one year upto 30th September,2016 wa...
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Rent paid on 1st october,2015 for one year upto 30th September,2016 was 2400. Rent paid on 1st october,2016 for the year upto 30th September,2017 was 3200. Rent shown in profit and loss account for the year ended on 31st December, 2016 would be?
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Rent paid on 1st october,2015 for one year upto 30th September,2016 was 2400. Rent paid on 1st october,2016 for the year upto 30th September,2017 was 3200. Rent shown in profit and loss account for the year ended on 31st December, 2016 would be? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Rent paid on 1st october,2015 for one year upto 30th September,2016 was 2400. Rent paid on 1st october,2016 for the year upto 30th September,2017 was 3200. Rent shown in profit and loss account for the year ended on 31st December, 2016 would be? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Rent paid on 1st october,2015 for one year upto 30th September,2016 was 2400. Rent paid on 1st october,2016 for the year upto 30th September,2017 was 3200. Rent shown in profit and loss account for the year ended on 31st December, 2016 would be?.
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