Solution-What amount of rental revenue should be reported

What amount of rental revenue should be reported

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Reference no: EM132968903

Question - Truppe Company leased a new machine to Byong Company on January 1, 2019. The lease expires on January 1, 2022. The annual rental is P1,150,000. Additionally, on January 1, 2019, Byong Company paid P680,000 to Truppe Company as a lease bonus and 200,000 as a security deposit to be refunded upon expiration of the lease. What amount of rental revenue should be reported for 2019?

a. 1,320,000

b. 1,500,000

c. 1,150,000

d. 1,200,000

Reference no: EM132968903

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What amount of rental revenue should be reported

Reference no: EM132968903

Reference no: EM132968903

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