On December 1, 2000, Marimar, a lessee paid P 18.000 to XYZ Company representing the rent for 3 months. Rent income was crodited on this date by XYZ Company. In the books of the lessor, what amount should be recognized as liability on December 31, 2000, the end of the accounting period? O. P 12.000 P 16,000 P 16,000 P 3,000
On December 1, 2000, Marimar, a lessee paid P 18.000 to XYZ Company representing the rent for 3 months. Rent income was crodited on this date by XYZ Company. In the books of the lessor, what amount should be recognized as liability on December 31, 2000, the end of the accounting period? O. P 12.000 P 16,000 P 16,000 P 3,000
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter3: Accrual Accounting
Section: Chapter Questions
Problem 2MCQ: In December 2019, Swanstrom Inc. receives a cash payment of $3,500 for services performed in...
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