User Account

All Pages

How much rent expense should alpha report

Assignment Help Accounting Basics
Reference no: EM132430262

Question - Alpha pays rent for numerous offices located through the city each year.

Alpha pays rents in advance in some cases and in others, rents are paid when due. The following information is included in alpha's December 31 balance sheets for 2014 and 2015.

prepaid rents 2014 is 15000

prepaid rent 2015 is 35000

rent payable 2014 is 25000

rent payable 2015 is 20000

During 2015 alpha paid total cash of $80000 in rentals. In its income statement for the year ended December 31, 2015 how much rent expense should alpha report on an accrual basis?

55000

65000

95000

105000

Reference no: EM132430262

Questions Cloud

Explain the importance of solid design : How would you explain the importance of a solid design to one of your company's clients who is in a hurry to just "get it done?"
Discuss negative negotiation tactics used by Kiki and Ted : Demonstrate and discuss the negative negotiation tactics used by Kiki and Ted. Develop and apply the appropriate countermeasure to each of the negative
What was alphas accrual basis and cash basis net income : Alpha purchased a truck on the first day of the current year for $30000 cash, What was Alphas' accrual basis and cash basis net income. (Ignore income tax)
Develop high-level it sourcing plan : Develop a high-level IT sourcing plan to guide Phoenix Fine Electronics to adopting enterprise solutions rather than multiple stand-alone systems.
How much rent expense should alpha report : In its income statement for the year ended December 31, 2015 how much rent expense should alpha report on an accrual basis
Development of a social media presence : How do you feel that the development of a social media presence would help or hinder your initiative or efforts to strengthen and ‘brand' programs
What is the payment of dividends declared on march : On March 1, the board of directors declared a cash dividend of $0.70. What is the payment of dividends declared on March 1
How much of gain from the sale of the publicly traded stock : In 2019, a taxpayer sold publicly traded stock at a $50,000 gain. How much of the gain from the sale of the publicly traded stock can the taxpayer defer in 2019
How functional sociologist view a formal social structure : How would a functional sociologist view a formal social structure like the Indian caste system?explain your answe making specific references to the caste system

Reviews

Write a Review

Accounting Basics Questions & Answers

  Heavy load inc has sales of 3450000 total assets of 1240000

heavy load inc. has sales of 3450000 total assets of 1240000 and total liabilities of 275000 which consist strictly of

  Prepare truck divisions variable overhead variances

Prepare Truck Divisions variable overhead variances for October

  Retro company is authorized to issue 10000 shares of 8 100

retro company is authorized to issue 10000 shares of 8 100 par value preferred stock and 500000 shares of no-par common

  Prepare a vertical analysis of the income statement

The following income statement data (in thousands) for Dell Inc. and Gateway, Inc., were taken from their recent annual reports:

  Prepare the journal entries for the issuance of the bonds

Prepare the journal entries for the issuance of the bonds. Assume the bonds are issued for cash on

  What four conditions are required for all types of databases

What four conditions are required for all types of databases?

  What was your holding period return

You invested in the no-load Oh Yes Mutual Fund one year ago by purchasing 1,000 shares of the fund at the net asset value of $25.00 per share.

  How the price of a set of clubs affects the demand for clubs

A golf club manufacturer is trying to determine how the price of a set of clubs affects the demand for clubs. The price of a set of clubs and the monthly sales.

  Prepare journal entries to record effects of transactions

Prepare journal entries to record the effects of these transactions and events in the general ledger accounts of the hospital

  Jones company accumulated deprectistion equipment increase

jones company accumulated deprectistion equipment increase by 6k while 2200 of patent was amortize between the balance

  Record the interest accrued on the note as of december

Record the receipt of a note on November 1, 2013 for a $100,000 loan to a new tenant. Record the interest accrued on the note as of December 31, 2013

  Assume that the lessee is required to make payments

Use the information in RE21 3. Prepare the journal entries that Richie Company (the lessor) would make in the first year of the lease assuming the lease is classified as a sales type lease.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd