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- KPL Ltd has a year end of 31 March 2021. During the year it paid £1,600 for rent. At the start of the year it had an accrual of £400 and at 31 March 2021 had prepaid £250 of rent in respect of the year starting 1 April 2021. What is the charge to the income account for the year ended 31 March 2021? a) £950 b) £1,600 c) £1,450 d) £1,750Which of the below terms refers to an upfront payment of the payroll remunerated as a percentage of the amount of sales contributed by a sales person? O a. Sales O b. Commission O C. Method O d. Purchase Question 22 If a person takes a mortgage OMR 82,000 for 25 years, with a rate of interest 4% compounded quarterly, what will be the number of periods in which he has to pay interest? a. 125 b. 300 C. 100 d. 60*see attached What is the net rent income for the current year? *a. 275,000b. 290,000c. 350,000d. 365,000
- On 31 December 2010 total of rent OMR 4,510 was owing, and the rent chargeable per year (2011) was OMR 12.000, the total of rent payment in 2011 will be OMR O a. 16,510 O b. 15,160 O c. 61,510 O d. 15,610Interest earned during the year will be: a. OMR 73,200,000 b. OMR 132,600,000 c. OMR 127,200,000 d. OMR 48,800,000 Non-interest incomes will be: a. OMR 2,800,000 b. OMR 2,400,000 c. OMR 4,400,000 d. OMR 4,200,000Slingerland borrowed $6,000 on July 20, at 11% interest. If the loan was due on October 15, what was the amount of interest on the loan using the exact interest method? A. $103.07 B. $143.01 C. $157.32 D. $220.00
- Raymond borrowed $3,000.00 from Loans R Us Company. The line of credit agreement provided for repayment of the loan in equal monthly payments of $668.76 which includes interest of 9.00 % per annum calculated on the unpaid balance. a. What is the monthly rate of interest? b. Calculate the outstanding loan balance at the end of the third payment c. What are the total interest charges? d. How many payments are required to pay off the loan e. What is the final PaymentLudwig borrowed $8,000 on July 20, at 11% interest. If the loan was due on October 17, what was the amount of interest on the loan using the exact interest method? Select one O a $263.01 Ob $273.06 De $21458 Od $285.2010.4 Jelly Co has sublet part of its offices and in the year ended 30 November 20X3 the rent receivable was: Until 30 June 20X3 $8,400 per year $12,000 per year From 1 July 20X3 Rent was paid quarterly in advance on 1 January, April, July, and October each year. What amounts should appear in Jelly Co's financial statements for the vear ended 30 November 20X3? Rent receivable Statement of financial position $2,000 in sundry payables $1,000 in sundry payables $1,000 in sundry payables $2,000 in sundry receivables A $9,900 $9,900 B $10,200 $9,900 C
- A man agreed to pay the loan he is borrowing from the bank in six (6) equal end of the year payments of P71,477.70. Interest is 18% per annum compounded annually and is included in the yearly amount he will be paying in the bank. How much is the man borrowing from the bank?A lender lends $10,500, which is to be repaid in annual payments of $2,020 for 6 years. Which of the following shows the timeline of the loan from the lender's perspective? A. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 $2,020 $2,020 $2,020 $2,020 $2,020 В. Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 - $10,500 $2,020 $2,020 $2,020 $2,020 $2,020 С. Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 - $10,500 $2,020 $2,020 $2,020 $2,020 $2,020 $2,020 Year 0 Year 1 Year 2 Year 3 Year 4 Year 5 Year 6 - $10,500 $2,020 $4,020 $6,020 $8,020 $10,020 $12,020Entity A received a 12%, ₱200,000, one-year, note receivable on October 1, 20x1. Entity A uses a calendar year period. The principal and interest on the note are due on October 1, 20x2. What is the adjusting entry to take up accrued interest income on December 31, 20x1? Entity A is renting out its building to a tenant for a monthly rent of ₱30,000. As of December 31, 20x1, the tenant has not yet paid the rent for the months of November and December. What is the adjusting entry to take up accrued rent income on December 31, 20x1? Entity A issued a 12%, ₱500,000, one-year, note payable on July 1, 20x1. The principal and interest are due on July 1, 20x2. What is the adjusting entry to take up accrued interest expense on December 31, 20x1? Entity A has equipment with a historical cost of ₱1,000,000. The equipment was estimated to have a 10-year useful life when it was acquired four years ago. What is the adjusting entry to take up the annual depreciation…
