Harish Kumar (IPCC) (475 Points)
24 July 2012Rent paid for the period from 1-10-2010 to 30-09-2011
was Rs. 12,000
rent paid for the period from 1-10-2011 to 30-09-2012
was Rs. 18,000
Rent to be debited to the P/L A/C for the year ended 31-03-2012 = ?
a) Rs. 15,000 b) 13,000
c) Rs. 12,000 d) 20,000
Ans is Rs 15,000
how to solve it.......
pls explain.........??
Ankit a shah
(Internal auditer)
(92 Points)
Replied 24 July 2012
6000 from 1/04/2011 to 30/09/2011
and
9000 from 1/10/2011 to 31/03/2012
so easy dude
Rent paid for the period from 1-10-2010 to 30-09-2011 was Rs. 12,000 ie. 1,000 per month
rent paid for the period from 1-10-2011 to 30-09-2012 was Rs. 18,000 ie. 1,500 per month
Financial year 2011- 2012 is from April 2011 to March 2012
Therefore
Take rent from those months only
| Apr-11 | 1,000.00 |
| May-11 | 1,000.00 |
| Jun-11 | 1,000.00 |
| Jul-11 | 1,000.00 |
| Aug-11 | 1,000.00 |
| Sep-11 | 1,000.00 |
| Oct-11 | 1,500.00 |
| Nov-11 | 1,500.00 |
| Dec-11 | 1,500.00 |
| Jan-12 | 1,500.00 |
| Feb-12 | 1,500.00 |
| Mar-12 | 1,500.00 |
| 15,000.00 |
We basically have to find the rent for the period- 1-4-2011 to 31-3-2012
As per first line)) We paid rent of 12000 for 1-10-2010 to 30-09-2011...
Compare this period with the period at the top (highlighted with red). It includes 6 months of that period, i.e 1-4-2010 to 30-09-2011.Therefore, to get the rent of that six months, multiply 12000 by 6/12 whioch equals 6000. Hence 6000 rent paid for 1-4-2011 to 30-09-2011.
As per second line)) We paid rent of 18000 for 1-10-2011 to 30-09-2012..
Again, compare this period with (1-4-2011 to 31-3-2012). It icludes 6 moths, i.e. 1-10-2011 to 31-3-2012. Multiply this with 6/12 too which equals 9000. 9000 rent paid for 1-10-2011 to 31-3-2012.
9000+6000=15000.
Hope you understand. :)
Harish Kumar
(IPCC)
(475 Points)
Replied 24 July 2012
| Originally posted by : Jiju Oommen | ||
 |
Rent paid for the period from 1-10-2010 to 30-09-2011 was Rs. 12,000 ie. 1,000 per month rent paid for the period from 1-10-2011 to 30-09-2012 was Rs. 18,000 ie. 1,500 per month Financial year 2011- 2012 is from April 2011 to March 2012 Therefore Take rent from those months only Apr-11 1,000.00 May-11 1,000.00 Jun-11 1,000.00 Jul-11 1,000.00 Aug-11 1,000.00 Sep-11 1,000.00 Oct-11 1,500.00 Nov-11 1,500.00 Dec-11 1,500.00 Jan-12 1,500.00 Feb-12 1,500.00 Mar-12 1,500.00 15,000.00 |
 |
Thank you sir....u are awesome......very easy method u adopt any body can understand it.......
again thanks for clear my doubts............!!
Harish Kumar
(IPCC)
(475 Points)
Replied 24 July 2012
| Originally posted by : Isham Mahajan | ||
|
|
We basically have to find the rent for the period- 1-4-2011 to 31-3-2012 As per first line)) We paid rent of 12000 for 1-10-2010 to 30-09-2011... Compare this period with the period at the top (highlighted with red). It includes 6 months of that period, i.e 1-4-2010 to 30-09-2011.Therefore, to get the rent of that six months, multiply 12000 by 6/12 whioch equals 6000. Hence 6000 rent paid for 1-4-2011 to 30-09-2011. As per second line)) We paid rent of 18000 for 1-10-2011 to 30-09-2012.. Again, compare this period with (1-4-2011 to 31-3-2012). It icludes 6 moths, i.e. 1-10-2011 to 31-3-2012. Multiply this with 6/12 too which equals 9000. 9000 rent paid for 1-10-2011 to 31-3-2012. 9000+6000=15000. Hope you understand. :) |
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Nice bro.....very easy method.....
thank you....!!
bhavesh
(Account Officer)
(64 Points)
Replied 24 July 2012
The above solution is correct and enough to understand
CAclubindia
