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Determine the amount of rental revenue

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Reference no: EM133088026

Question - CJM CORP leased a new machine to HIVE  on January 01, 2012. The lease expires on January 01, 2017. Annual rental is P900,000. Additionally, on January 01, 2012, HIVE paid P500,000 to CJM CORP as a lease bonus and P250,000 as a security deposit to be refunded upon expiration of the lease. In CJM CORP's 2012 statement of comprehensive income, determine the amount of rental revenue?

a. P1,400,000

b. P1,250,000

c. P1,000,000

d. P900,000

Reference no: EM133088026

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