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Journal entryIntermediatePublished

Question · The effects on classification

Pierre-Rente SA has as its main business activity investing in investment property, which it discloses in its financial statements (case facts: specified main business activity). Its draft statement of profit or loss classified in the investing category rental income of 380,000. Record the presentation entry that reclassifies this rental income to the operating category.

Rental income to be reclassified
380,000
Your answer
  1. Line 1

    Account Rental income removed from the investing category

  2. Line 2

    Account Rental income moved to the operating category

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