Other payables and other receivables：练习题

A business has an unpaid electricity bill of \(\$150\) at the end of the financial year. In which section of the statement of financial position will this amount appear?

During the financial year, a business paid \(\$6,000\) for rent by cheque. At the start of the year, there was a rent prepayment of \(\$500\). At the end of the year, there was a rent accrual of \(\$400\). What is the total rent expense to be transferred to the income statement?

A business's financial year ends on 31 December. On 1 August 2023, the business received a cheque for \$3,600 for rent income covering the period from 1 August 2023 to 31 July 2024. On 31 December 2023, there was also an unpaid advertising bill of \$450.

What were the total other payables to be included in the statement of financial position on 31 December 2023?

A business pays an annual insurance premium of \(\$1,200\) on 1 October. The financial year ends on 31 December. State the amount of the insurance prepayment to be recorded in the statement of financial position at the year-end.

A trader receives rent for a property he owns. At the start of the year, rent in arrears was \(\$400\). During the year, he received rent total of \(\$5,000\) by cheque. At the end of the year, rent in advance was \(\$300\). Calculate the amount of rent income to be credited to the Income Statement for the year.

A business pays its annual insurance premium of \(\$1,200\) on 1 April each year. On 1 January 2023, the prepaid insurance balance was \(\$300\). On 31 December 2023, what amount for insurance expense should be charged to the income statement for the year, and what balance should appear in the statement of financial position for prepaid insurance?