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Question 1: On October 16th, 2018 Webber Company received $60,000, representing one year of advanced rent on a building that it owns. On its December 31, 2018 Balance Sheet, Webber will report a current liability of (select the closest answer):
Option A) $0 - This amount is a prepayment.
Option B) $60,000
Option C) $45,000
Option D) $47,500
Option E) $50,00
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Paul and Donna Decker are married taxpayers, ages 44 and 42, who file a joint return for 2013. The Deckers live at 1121 College Avenue, Moab, Utah 84632. Paul is an assistant manager at Moab Motor Inn, and Donna is a teacher at Carmel Elementary S..
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