Question

On November 1, 20x4, you rented some office space to another company for $2593 per month....

On November 1, 20x4, you rented some office space to another company for $2593 per month. You received the first 6 months rent in advance. What is the amount of unearned rent on your December 31, 20x4 balance sheet?

Select one:

a. $10372

b. $5186

c. $7779

d. $15558

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Homework Answers

Answer #1
Ans. Option   b   $5,186
*In the balance sheet of December 3, the unearned rent would be recorded for
2 months (1 Nov. - 31 Dec).
*Calculations for Unearned rent received:
The amount received is $2,593 per month. So the unearned rent for 2 months will
be calculated by the following way :
Unearned rent received for 2 months =   $2,593 * 2
$5,186
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