Rent paid on 1st October, 2014 for the year upto 30th September, 2015 was Rs. 1,200 and rent paid on 1st October, 2015 for the year up to 30th September, 2016 was Rs. 1,600. Find the rent payable as shown in the profit and loss account for the year ended 31st December.

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Solution

Amount of rent payable
= Rs. $1, 300 (1, 200 \times \frac{9}{12}) + (1, 600 \times \frac{3}{12})$

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Rent paid on 1st October, 2014 for the year upto 30th September, 2015 was Rs. 1,200 and rent paid on 1st October, 2015 for the year up to 30th September, 2016 was Rs. 1,600. Find the rent payable as shown in the profit and loss account for the year ended 31st December.

Amount of rent payable = Rs. 1,300(1,200×912)+(1,600×312)

Amount of rent payable
= Rs. $1, 300 (1, 200 \times \frac{9}{12}) + (1, 600 \times \frac{3}{12})$