Computation of rent value (single entry chapter)

31-3-2005

31-3-2006

2400

3000

Please Solve it Given

 

 

 

RENT (O/S for one month)                           

Additional information

1. Rent has been increased from jan. 2006

2. Mr. X deposit all cash sales and collection from debtors after meeting wages, shop expenses,rent,electricity and telephone charges.

3. Rs. 6500 PM towards wages

4. Electricity and telephone charges Rs. 24000(paid)

5. Shop expenses Rs. 18000 (paid)

6. Cash sale Rs. 297500 & Collection from Dr. Rs. 876600

 

Ans:-

Rent paid

30000

Less: O/S

(2400)

Add: O/S

3000

PLZ compute this Rent paid 30000 kaise calculate hua plz explain

MAY 2006 IPCC Exam Question

 

Replies (9)

If we assume that the increase in rent for jan06 is effective from feb, then 

Rent:

@ 2400 for 10 months (from apr to jan 06) = 24000

@ 3000 for 2 months (for feb & mar 06) = 6000

If bank balance was given, it could have been verified I think.

 

Bank balance is in 2005 Rs. 108400 in 2006 Rs. 2500
Bank balance is in 2005 Rs. 108400 in 2006 Rs. 2500
Ok but one month o/s rent what does it mean........ Can u explain this plz......!!

If I consider bank balance, it does not add up because I think the problem is limited to rent a/c only. Outstanding rent means rent which is booked as exps but not yet paid. 

Ok but o/s rent for 1 month does not effect in Rs. 30000
@ Harish I think it is an extract of some question and not a question in itself. Nevertheless rent paid is: 1-2400 for 10 months,i.e. April to January =24000 2-3000 for 2 months,i.e. February to March =6000. Total being 30000
The part where it says o/so for 1 month is nothing but the person pays the rent by a delay of 1 month. So he pays 2400 rent due for march in month of April and April's rent in may. This way he pays 2400 for 10 months during the year. Whereas 3000 of January he pays in February and February's in march,amount being 6000 for 2 months. Hence, total being 30000 during the year.
Thank you very much Nihar & Poornima......!!

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