Cortona Limited presents the following balances in its financial statements for the years ended 30 September 2019 and 30 September 2018:
$\begin{array}{lcc}
& 2019 & 2018 \
& £ & £ \
\text { Interest receivable at the end of the year } & 68 & 88 \
\text { Interest received (= cash) during the financial } & 848 & 828
\end{array}$ Based on these figures, what interest receivable (finance income) figure will be disclosed by Cortona Limited in its statement of profit or loss for the financial year ended 30 September 2019?

Question

Cortona Limited presents the following balances in its financial statements for the years ended 30 September 2019 and 30 September 2018:
$\begin{array}{lcc} 
& 2019 & 2018 \
& £ & £ \
\text { Interest receivable at the end of the year } & 68 & 88 \
\text { Interest received (= cash) during the financial } & 848 & 828
\end{array}$ Based on these figures, what interest receivable (finance income) figure will be disclosed by Cortona Limited in its statement of profit or loss for the financial year ended 30 September 2019?

Quizplus · Accepted Answer

The Answer of Cortona Limited presents the following balances in its financial statements for the years ended 30 September 2019 and 30 September 2018:
$\begin{array}{lcc} 
& 2019 & 2018 \
& £ & £ \
\text { Interest receivable at the end of the year } & 68 & 88 \
\text { Interest received (= cash) during the financial } & 848 & 828
\end{array}$ Based on these figures, what interest receivable (finance income) figure will be disclosed by Cortona Limited in its statement of profit or loss for the financial year ended 30 September 2019?

Cortona Limited Presents the Following Balances in Its Financial Statements