Accounting 9706 · AS & A Level · Preparation of financial statements

Preparation of financial statements — practice question

On 1 May 2018 Trevor showed a debit balance of $3000 in his rent receivable account. Rent received over the year was: 28 May 2018: $18{,}000 30 November 2018: $16{,}000 By 30 April 2019, Trevor was owed $4000 in respect of rent for the period ending 30 April 2019. Which entry ought to be recorded in the income statement for rent receivable for the year ended 30 April 2019?

  • A$33{,}000
  • B$35{,}000
  • C$38{,}000
  • D$41{,}000

Worked solution & mark scheme

This 1-mark question has a full step-by-step worked solution and mark scheme.

  • Full mark scheme, point by point
  • Step-by-step worked solution
  • Write your answer & get it marked instantly by AI