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

Preparation of financial statements — practice question

A business paid annual rent of $24000. At the start of the year, on 1 January, accrued rent stood at $4000. Rent payments made during the year were: 1 January $12000 1 July $10000 1 September $13000 How was rent shown in the financial statements at 31 December?

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