At 1 January 2014 a business had prepaid rent of $700. In July it paid an invoice for $9300 and on 31 December it transferred an expense of $9000 to the income statement.

Which value appeared in the statement of financial position at 31 December 2014?

Question

At 1 January 2014 a business had prepaid rent of $700. In July it paid an invoice for $9300 and on 31 December it transferred an expense of $9000 to the income statement.

Which value appeared in the statement of financial position at 31 December 2014?

Oracle Prep · Accepted Answer

The correct answer is D: $1000 other receivables

At 1 January 2014 a business had prepaid rent of $700. In July it paid an invoice for $9300 and on 31 December it transferred an expense of $9000 to the income statement. Which value appeared in the statement of financial position at 31 December 2014?

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