Register now or log in to join your professional community.
A) Balance Sheet B) Profit & Loss Account C) Trading AccountD) Both Balance Sheet and Profit & Loss Account
in BALANCE SHEET ONLY
......................
only shown in Balance sheet
Is an item of A) Balance Sheet.
Rent Receivable is an item of Balance Sheet only.
Correct Answer is D) Both Balance Sheet and Profit & Loss Account of Rent Receivable
Rent Receiveable given in trial balance is an Item of A) Balance Sheet
Option A is the right answer.
Balane sheet if considered good; P&L if considered unrevoverable.
Rent receivale is under the accounts that belong to the A/R that define the current assets so definitely is an item of Balance Sheet the answer is :A
It is an item of Balance Sheet. Option A is correct answer.
