During 2020, JamJam Company received P8,000,000 from tenants. The balance sheet contained the following data: 2019 2020 Rentals receivable P 960,000 P1,240,000 Unearned rentals 3,200,000 2,400,000 What amount of rental revenue should be reported for 2020?
During 2020, JamJam Company received P8,000,000 from tenants. The balance sheet contained the following data: 2019 2020 Rentals receivable P 960,000 P1,240,000 Unearned rentals 3,200,000 2,400,000 What amount of rental revenue should be reported for 2020?
Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter16: Retained Earnings And Earnings Per Share
Section: Chapter Questions
Problem 3MC: Prince Corporations accounts provided the following information at December 31, 2019: What should be...
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Question
During 2020, JamJam Company received P8,000,000 from tenants. The balance sheet contained the
following data:
2019 2020
Rentals receivable P 960,000 P1,240,000
Unearned rentals 3,200,000 2,400,000
What amount of rental revenue should be reported for 2020?
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