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Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___
  • a)
    Rs.11,000
  • b)
    Rs.12,000
  • c)
    Rs.5,500
  • d)
    Rs.6,000
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Proprietor used a rented building both forbusiness purpose and as well...
Liability of the business for rent outstanding

Rent paid during the year = Rs.1,32,000
One month rent outstanding = Rs.11,000 (1/12 of Rs.1,32,000)

Calculation:

Total rent payable including outstanding rent = Rs.1,32,000 + Rs.11,000 = Rs.1,43,000

Therefore, the liability of the business for rent outstanding is Rs.6,000 (1/12 of Rs.1,43,000).
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Community Answer
Proprietor used a rented building both forbusiness purpose and as well...
132000/11=12000because rent is paid for 11 months only !Hope u understand otherwise u should go to Agra Hospital
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Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___a)Rs.11,000b)Rs.12,000c)Rs.5,500d)Rs.6,000Correct answer is option 'D'. Can you explain this answer?
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Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___a)Rs.11,000b)Rs.12,000c)Rs.5,500d)Rs.6,000Correct answer is option 'D'. Can you explain this answer? 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 Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___a)Rs.11,000b)Rs.12,000c)Rs.5,500d)Rs.6,000Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Proprietor used a rented building both forbusiness purpose and as well as residenceequally. The rent paid during the year for thebuilding was Rs.1,32,000 debited to rentexpenses A/c in the books of business. Onemonth rent is still outstanding. Liability of thebusiness for rent outstanding ___a)Rs.11,000b)Rs.12,000c)Rs.5,500d)Rs.6,000Correct answer is option 'D'. Can you explain this answer?.
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