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Accrual basis rent revenue = 42000 Accrual basis rent expense = 26000 prepaid rent increase = 850 rent receivable decrease = 610 rent payable decrease
Accrual basis rent revenue = 42000
Accrual basis rent expense = 26000
prepaid rent increase = 850
rent receivable decrease = 610
rent payable decrease = 870
unearned rent increase = 360
What is cash received for rent?
What is cash paid for rent?
Can you explain how you did each problems? My professor draws 2 columns (the left: IN, the right: OUT) and lists the values, but I don't really get it. I would prefer if you use that method, but it's totally fine if u use a different / easier method. Thank you.
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