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Our company, which prepares its financial statements on a monthly basis, has leased its workplace on 01.08.2020 from 3.000 TL per month for 1 year. One-year rental fee and 18% VAT have been deposited into the bank account of the enterprise. Assuming that the financial statements are prepared on a monthly basis , in which account, how and in what amount is the rental income for the period January 2021-July 2021 recognized?     a) 380 Revenues for the Next Months Hs .36.000 TL Creditor  B) 380 Revenues for Future Months Hs. 12.000 TL Creditor  NS) 380 Revenues for Future Months Hs. 12.000 TL Debt  D) 480 Income for Future Years Hs. 21.000 TL Creditor  TO) 480 Income for Future Years Hs. 21.000 TL Debtor

Our company, which prepares its financial statements on a monthly basis, has leased its workplace on 01.08.2020 from 3.000 TL per month for 1 year. One-year rental fee and 18% VAT have been deposited into the bank account of the enterprise. Assuming that the financial statements are prepared on a monthly basis , in which account, how and in what amount is the rental income for the period January 2021-July 2021 recognized?     a) 380 Revenues for the Next Months Hs .36.000 TL Creditor  B) 380 Revenues for Future Months Hs. 12.000 TL Creditor  NS) 380 Revenues for Future Months Hs. 12.000 TL Debt  D) 480 Income for Future Years Hs. 21.000 TL Creditor  TO) 480 Income for Future Years Hs. 21.000 TL Debtor

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Our company, which prepares its financial statements on a monthly basis, has leased its workplace on 01.08.2020 from 3.000 TL per month for 1 year. One-year rental fee and 18% VAT have been deposited into the bank account of the enterprise. Assuming that the financial statements are prepared on a monthly basis , in which account, how and in what amount is the rental income for the period January 2021-July 2021 recognized? 
  
 a)

380 Revenues for the Next Months Hs .36.000 TL Creditor
 B) 380 Revenues for Future Months Hs. 12.000 TL Creditor
 NS)

380 Revenues for Future Months Hs. 12.000 TL Debt
 D)

480 Income for Future Years Hs. 21.000 TL Creditor
 TO)

480 Income for Future Years Hs. 21.000 TL Debtor
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