1 January 2019 the company made a loan of £12,000 to an employee, charging 2% interest per year. On 1 January 2020, the employee repaid the loan in full plus interest The company paid insurance premium of £9,000 in September 2019, for period ending 31 August 2020 In January 2020, the company received overdue due rent of £4,000 from customer, covering period to December 2019. Calculate the amount to be included the company’s statement of financial position as at 31 December 2019
1 January 2019 the company made a loan of £12,000 to an employee, charging 2% interest per year. On 1 January 2020, the employee repaid the loan in full plus interest The company paid insurance premium of £9,000 in September 2019, for period ending 31 August 2020 In January 2020, the company received overdue due rent of £4,000 from customer, covering period to December 2019. Calculate the amount to be included the company’s statement of financial position as at 31 December 2019
Chapter9: Accounting For Receivables
Section: Chapter Questions
Problem 14EB: Anderson Air is a customer of Handler Cleaning Operations. For Anderson Airs latest purchase on...
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As at 31 December 2019, the company require inclusion in a financial statement the following:
-
- 1 January 2019 the company made a loan of £12,000 to an employee, charging 2% interest per year. On 1 January 2020, the employee repaid the loan in full plus interest
- The company paid insurance premium of £9,000 in September 2019, for period ending 31 August 2020
- In January 2020, the company received overdue due rent of £4,000 from customer, covering period to December 2019.
Calculate the amount to be included the company’s
a. |
Current assets £10,000 Current liabilities £12,240 |
|
b. |
Current assets £22,240 Current liabilities nil |
|
c. |
Current assets £10,240 Current liabilities nil |
|
d. |
Current assets £16,240 Current liabilities £6,000 |
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