first year of trading the company pays total telephone company invoices of £4,300. The three-month invoice paid in July Year 4 includes calls of £1,200 for the quarter up to 30 June Year 4 and advance rental of £960 for the quarter to 30 September Year 4. The invoice received in October Year 4 includes calls of £840 for the quarter up to 30 September Year 4 and advance rental of £1,200 for the quarter to 31 December Year 4. What is the telephone expense to be recorded in the income statement for the first year of trading? a) £5,180 b) £4,300 c) £4,860 d) £4,540

first year of trading the company pays total telephone company invoices of £4,300. The three-month invoice paid in July Year 4 includes calls of £1,200 for the quarter up to 30 June Year 4 and advance rental of £960 for the quarter to 30 September Year 4. The invoice received in October Year 4 includes calls of £840 for the quarter up to 30 September Year 4 and advance rental of £1,200 for the quarter to 31 December Year 4. What is the telephone expense to be recorded in the income statement for the first year of trading? a) £5,180 b) £4,300 c) £4,860 d) £4,540

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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