Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

alpha pays rent for numerous offices located throught the city each year. alpha pays rents in advance in some cases and in others , rents

alpha pays rent for numerous offices located throught the city each year.

alpha pays rents in advance in some cases and in others , rents are paid when due. the following information is included in alpha's december 31 balance sheets for 2014 and 2015.

prepaind rents 2014 is 15000

prepainds rent 2015 is 35000

rent payable 2014 is 25000

rent payable 2015 is 20000

during 2015 alpha paid total cash of $80000 in rentals. In its income statement for the year ended december 31, 2015 how much rent expense should alpha report on an acrual basis?

55000

65000

95000

105000

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Principles Of Fraud Examination

Authors: Joseph T Wells

2nd Edition

0470128836, 9780470128831

More Books

Students also viewed these Accounting questions

Question

Help me with python

Answered: 1 week ago