Doug Co sublets part of its office accommodation. Rent is received quarterly in advance on 1 January, 1 April, 1 July, and 1 October. The annual rent was $24,000 for several years but was increased to $30,000 effective from 1 July 20X5. Doug Co has an accounting year end of 31 January 20X6. What amounts for rent should appear in Doug Co's financial statements for the year ended 31 January 20X6?

On 1 November 20X4, Delta Co purchased items of inventory on credit from a foreign supplier for P50,000 (pesa). Delta Co's functional currency is the dollar ($). As of 31 December 20X4 (year-end), the inventory was still held and the payment was unsettled. Exchange rates: 1 November 20X4: $1.25 to P131 December 20X4: $1.30 to P1 What amounts should be recognised in Delta Co's financial statements for the year ended 31 December 20X4 for inventory and exchange differences?

The opening balance of Profit and Loss Account was ₹7,500, dividend paid was ₹1,500, and the closing balance of Profit and Loss Account was ₹5,000. Net income or Net loss was: