9706/12 Accounting Oct Nov 2022 Online Test | Cambridge AS and A Level MCQ
A business receives rent from letting part of its premises.
On 1 January 2022, there was a balance brought forward of $1000 in the rent receivable account in respect of one month’s rent received in advance.
During the year ended 31 December 2022, the business received further amounts totalling $13000 to cover the period from 1 February 2022 to 31 January 2023.
A rent increase of 10% was introduced from 1 April 2022.
The…