Question : Rent paid during the year Rs 13,000 compute rent for the year ended 31st March 2021 from the following
Option 1: Rs 13,000
Option 2: Rs 12,800
Option 3: Rs 12,600
Option 4: Rs 12,400
Correct Answer: Rs 12,600
Solution : Calculation of the amount credited to the Income and Expenditure account. Rent Paid = 13000 (+) o/s (2021) = 1400 _____ 14400 (-) o/s (2020) 1600 _______ 12800 (-) Advance (2021) (1000) _____ 11800 (+) Advance (2020) 800 ______ Income and 12600 Exp.A/C Answer = Rs 12,600 . Hence, the correct option is 3.
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