A landlord received $5,000 cash for December 2019's rent, but the tenant's rent for December is $8,000. Which of the following is true for year ended 2019? group of answer choices a)$8,000 would appear on the income statement as rent revenue earned. b)$8,000 would be reported on the statement of cash flows. c)$8,000 would appear on the balance sheet as rent receivable. d)$5,000 would appear on the balance sheet as prepaid rent. e)$3,000 would appear as unearned rent revenue.
A landlord received $5,000 cash for December 2019's rent, but the tenant's rent for December is $8,000. Which of the following is true for year ended 2019? group of answer choices a)$8,000 would appear on the income statement as rent revenue earned. b)$8,000 would be reported on the statement of cash flows. c)$8,000 would appear on the balance sheet as rent receivable. d)$5,000 would appear on the balance sheet as prepaid rent. e)$3,000 would appear as unearned rent revenue.
Financial Accounting
15th Edition
ISBN:9781337272124
Author:Carl Warren, James M. Reeve, Jonathan Duchac
Publisher:Carl Warren, James M. Reeve, Jonathan Duchac
Chapter6: Accounting For Merchandising Businesses
Section: Chapter Questions
Problem 5PA: The following selected accounts and their current balances appear in the ledger of Clairemont Co....
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A landlord received $5,000 cash for December 2019's rent, but the tenant's rent for December is $8,000. Which of the following is true for year ended 2019?
group of answer choices
a)$8,000 would appear on the income statement as rent revenue earned.
b)$8,000 would be reported on the statement of cash flows.
c)$8,000 would appear on the balance sheet as rent receivable.
d)$5,000 would appear on the balance sheet as prepaid rent.
e)$3,000 would appear as unearned rent revenue.
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