Hari agrees to let his flat to Sita for marijuana packing business on a monthly rent of Rs.50,000. After five months Sita stops the payment of rent. Can Hari recover the rental amount? What is the closest net fixed rent?

Assuming, Mr. A. paid rent of P25, 000, this would result to decrease in capital and decrease in liability.Select one:TrueFalse

22' Janith PLC hired a building on 1/1/2017 and paid Rs. 120,000 as the annual rent for the year ending31/12/2017 on that date. The rent paid on 01/01/2018 for the year ending 31/12/2018 is Rs. 180,000. Theaccounting year is ended on 31/3. The rent should be recorded in the income statement for the yearending 31/3/2018 and the rent paid in advance as at that date is,Rent in the income statement (Rs.) Pre-paid rent1' 120,000 135,0002' 120,000 180,0003' 135,000 45,0004' 135,000 135,0005 165,000 45,000 (…..)23' Following information relevant for Imalka's business.As at 31/3/2018 (Rs.) As at 1/4/2017 (Rs.)Debtors 80,000 50,000Stock 50,000 30,000Cash received by the debtors during the period Rs. 320000 and gross profit ratio is 20% on sales.The value of the purchases should be taken to income statement is,1. Rs. 250,000 2. Rs. 260,000 3. Rs. 271,0004. Rs. 300,000 5. Rs. 310,000 (…..)24' Following information provided relevant for Panduka's business for the year ending 31/3/2018Rs.Sales 500,000Purchases 380,000Return outward 10,000Stock as at 1.4.2017 60,000Stock as at 31.3.2018 70,000A stock worth of Rs. 20,000 totally damaged due to a fire. Gross profit for the year ending 31.3.2018 is,1. Rs. 100,000 2. Rs. 120,000 3. Rs. 140,0004. Rs. 150,000 5. Rs. 160,000 (…..)25' Employers and employees contribution for EPF are 15% and 10% respectively. The contribution for ETFis 3% . The balance of the salary expense account for the year ending 31/3/2018 is Rs. 720,000 and thepaid salary after deducting the contribution for EPF by the employee has been debited to salary expenseaccount and credited to cash control A/C. EPF and ETF are calculated on gross salary. The total expenserelevant for employees for the year ending 31/3/2018.1. Rs. 720,000 2. Rs. 800,000 3. Rs. 920,0004. Rs. 944,000 5. Rs. 964,000 (…..) Use following information to answer Q. No. 26 and 27(1) Salaries Rs.- Payable as at 31/3/2017 4000- Payable as at 31/3/2018 24000- paid in the year ending 31.3.2018 44,000(2) Rent incomeReceived a rent income on 1/10/17 of Rs. 90000 for 9 month ending 30.06.2018626' Salary expense and rent income should be recorded in the income statement for the year ending31/3/2018Salary (Rs.) Rent income (Rs)1' 24,000 30,0002' 28,000 30,0003' 44,000 60,0004' 64,000 60,0005 64,000 90,000 (…..)27' The total liability should be recognized in the statement of financial position as at 31.03.2018 for salary1. Rs. 24,000 2. Rs. 30,000 3. Rs. 54,0004. Rs. 60,000 5. Rs. 64,000 (…..)28' Following information is provide about rates and taxRs.Accrued rates and tax as at 1.4.2017 65,000payments within the period- Rates 150,000- Tax 80,000Payable tax as at 31.3.2018 20,000Pre-paid rates as at 31.3.2018 10,000The tax and rates expense should be recorded in the income statement is,1. Rs. 175,000 2. Rs. 230,000 3. Rs. 185,0004. Rs. 155,000 5. Rs. 240,000 (…..)29' Select the answer having only the current assets1. Good will, stock, trade receivables, pre - payments2. Trade receivables, pre- payments, stock, cash3. Trade receivables, stock, patent, cash4. Investments, Good will, stock, cash5. Copyright, Trade receivables, cash, prepayment (…..)30' Information of a business registered for VAT is given for you (for the year ending 31/3/18)(Rs. 000)Sales (including VAT) 920Purchases (Including VAT) 460cost of the stock as at 1.4.2017 120cost of the stock as at 31.3.2018 80VAT percentage is 15%The gross profit for the year ending 31.3.2018 is ,1. Rs. 360,000 2. Rs. 380,000 3. Rs. 400,0004. Rs. 420,000 5. Rs. 440,000 (…..)

An adjustment for Prepaid Rent Expense would indicate: athe amount of the trial balance bthe amount expired cthe amount originally paid dthe amount of the ending balance

The landlord waived the first month's rent in December 2023, but asked the rent for January and February 2024 totalling $13,000 to be paid in advance. Speedy Limited paid the $13,000 in cash to the landlord and recorded it as a prepayment.

Question #2XYZ Inc. is getting ready move its factory from its exciting location to a new industrialfree trade zone specially created by the government for manufacturers. To avail itself ofthe preferential licensing offered by the local governmental authorities as a reward formoving in to the free trade zone and the savings in costs (since there are no duties ortaxes in the free trade zone), XYZ Inc. has to move in to the new location before the yearend & the current lease is non cancel-able and is for another two years from year-end.The obligation under the lease is the annual rent of Rs. 100,000.Required: Advise XYZ Inc. what amount, if any, it needs to provide at year-endtoward this lease obligation