User Account

All Pages

What amount should be reported as rent income

Assignment Help Accounting Basics
Reference no: EM133046218

Question - On January 1, 2021, Ice Cream Company leased a new machine to Lessee Company for 5 years. The annual rental is P483,000. Lessee Company paid P26,450 to Ice cream Company as a lease bonus and P47,980 as a security deposit to be refunded upon expiration of the lease. What amount should be reported as rent income for the current year?

Reference no: EM133046218

Questions Cloud

What is the estimated cost of merchandise inventory : If the estimated rate of gross profit is 40%, what is the estimated cost of merchandise inventory on June 30, based on the following data
Write a brief report referring to relevant literature : Daily issues that impact on parenting and the child's wellbeing, including where a child may be at risk of harm.
What is this individual income tax liability : The business has revenue of $450,000 and expenses of $200,000 in a given year, What is this individual's income tax liability
Describing and reflecting on the diversity of families : Describing and reflecting on the diversity of families and the characteristics of effective partnerships, and discussing the challenges and rewards
What amount should be reported as rent income : On January 1, 2021, Ice Cream Company leased a new machine to Lessee Company for 5 years. What amount should be reported as rent income
Prepare the journal entry for crane company : Crane Company has accounts receivable of $912,000 and an allowance for doubtful accounts of $45,600. Prepare the journal entry for Crane Company
What the bible says about a contemporary issue : Write an essay on what the Bible says about a contemporary issue. You will choose from a list of topics and look at verses from the Bible that might address
Write your essay on the basis of cultural worldview : Choose the worldview that best represents your own experience. You will write your essay on the basis of this cultural worldview.
Ethics in business instructions : After reading the learning resources of the module, in this task you will write an explanatory essay on ethics in business.

Reviews

Write a Review

Accounting Basics Questions & Answers

  How much control does fed have over this longer real rate

Hubbard argues that the Fed can control the Fed funds rate, but the interest rate that is important for the economy is a longer-term real rate of interest.   How much control does the Fed have over this longer real rate?

  Coures:- fundamental accounting principles

Coures:- Fundamental Accounting Principles: - Explain the goals and uses of special journals.

  Accounting problems

Accounting problems,  Draw a detailed timeline incorporating the dividends, calculate    the exact Payback Period  b)   the discounted Payback Period. the IRR,  the NPV, the Profitability Index.

  Theory of interest - term structure of interest rates

Term Structure of Interest Rates

  Write a report on internal controls

Write a report on Internal Controls

  Prepare the bank reconciliation for company

Prepare the bank reconciliation for company.

  Cost-benefit analysis

Create a cost-benefit analysis to evaluate the project

  Theory of interest

Theory of Interest: NPV, IRR, Nominal and Real, Amortization, Sinking Fund, TWRR, DWRR

  Liquidity and profitability

Distinguish between liquidity and profitability.

  What is the expected risk premium on the portfolio

Your Corp, Inc. has a corporate tax rate of 35%. Please calculate their after tax cost of debt expressed as a percentage. Your Corp, Inc. has several outstanding bond issues all of which require semiannual interest payments.

  Simple interest and compound interest

Simple Interest, Compound interest, discount rate, force of interest, AV, PV

  Capm and venture capital

CAPM and Venture Capital

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +91-977-207-8620

Phone: +91-977-207-8620

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd