Question : Rent paid during the year Rs 13,000 compute rent for the year ended 31st March 2021 from the following
| March 2020 | March 2021 | |
| Outstanding Rent | Rs 1600 | Rs 1400 |
| Prepaid- rent | Rs 800 | Rs 1000 |
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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Question : Rent paid during the year Rs 13,000 compute rent for the year ended 31st March 2021 from the following
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