Locker Rent received = 17,050.
Less: Previous year's (2020-21) outstanding received now = 3,050 (not current year's income).
Add: Current year outstanding (receivable for 2021-22) = 1,500.
Less: Advance received for next year = 1,000.
Current year income = 17,050 - 3,050 + 1,500 - 1,000 = 14,500.
Being income, it is credited to Income and Expenditure A/c.
Receipt and Payment a/c for the year ending 31.3.22. | Locker Rent | Rs.17,050 | |---|---| Additional Information: Locker rent Rs.3,050 outstanding…
CUET UG 2022 — Accountancy Financial Statements
2022mcqhard
Receipt and Payment a/c for the year ending 31.3.22.
| Locker Rent | Rs.17,050 |
|---|
Additional Information:
Locker rent Rs.3,050 outstanding for the year 2020-21 and Rs.1,500 for 2021-22.
Locker rent received on advance at the end of current year i.e on 31.3.22 is Rs.1,000.
What amount of Locker Rent will be shown in Income and Expenditure A/c?
Choose the correct option:
Official previous-year question
Held on 16 Jul 2022 · Verified 13 Jul 2026.
Options
- A
Rs.14,500 Dr. to Income and Expenditure A/C
- B
Rs.17,600 Dr. to Income and Expenditure A/C
- C
Rs.14,500 Cr. to Income and Expenditure A/C
- D
Rs.17,600 Cr. to Income and Expenditure A/C
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