Sophia pays her rent quarterly in arrears and her year end is 31st December. During the year she has made payments as follows: 1st May (re quarter ending 30th Apr) £3,250 1st Aug (re quarter ending 31st Jul) £3,250 1st Nov (re quarter ending 31st Oct) £3,500 Sophia anticipates that her next quarter's payment will be the same as she paid in November. How much will she show for rent on her statement of profit or loss at 31st December? (Round to the nearest whole number)

Sophia pays her rent quarterly in arrears and her year end is 31st December. During the year she has made payments as follows: 1st May (re quarter ending 30th Apr) £3,250 1st Aug (re quarter ending 31st Jul) £3,250 1st Nov (re quarter ending 31st Oct) £3,500 Sophia anticipates that her next quarter's payment will be the same as she paid in November. How much will she show for rent on her statement of profit or loss at 31st December? (Round to the nearest whole number)

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 79P

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