Solution-Find what amount should be credited to rent income

Find what amount should be credited to rent income

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Reference no: EM132817954

Problem 1: Alive Corporation purchased a machine on January 1, 2020 for P5,000,000 for lease purposes. It has an estimated useful life of ten years with no salvage value. Alive leased the machine on March 31, 2020 at P80,000 monthly for four years. Alive required security deposit of P1,000,000 on March 31, 2020 which shall be returned to the lessee upon lease expiration. What amount should be credited to rent income upon receipt of the P1,000,000 security deposit?

Reference no: EM132817954

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Find what amount should be credited to rent income : Alive Corporation purchased a machine on January, What amount should be credited to rent income upon receipt of the P1,000,000 security deposit?

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Find what amount should be credited to rent income

Reference no: EM132817954

Reference no: EM132817954

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