User Account

All Pages

What would be the net rental income

Assignment Help Accounting Basics
Reference no: EM132562623

Question - A corporation, whose business was the rental of residential properties, owned a class 1 building with undepreciated capital cost (UCC) of $100,000. Rental revenue, including unearned rent deposits of $1,000, was $35,000. Total expenses, excluding capital cost allowance (CCA) and repairs, were $15,000. Replacing the shingle roof with a metal roof for $10,000 was the only repair. What would be the net rental income?

A) $4,400

B) $14,400

C) $14,800

D) $15,400

Reference no: EM132562623

Questions Cloud

Describe the difference between direct and indirect costs : Describe the difference between direct and indirect costs. Do you agree that all variable costs are direct costs while all fixed costs are indirect costs?
Find what is the variable cost per unit : What is the variable cost per unit? The total cost of 5,000 units is GH$50,000 and the total cost of making 20,000 units is GH$ 140,000.
What are the various types of ways the management accountant : What are the various types of ways the Management accountant can classify the costs by Management decisions? Describe any 5.
What is the direct materials efficiency : Direct Materials is $1.70 per pound and the Direct Labor has a standard price of $9.00 per hour. What is the direct materials efficiency (quantity) variance
What would be the net rental income : Rental revenue, including unearned rent deposits of $1,000, was $35,000. What would be the net rental income
Prepare profit or loss account for sales : Prepare profit/loss account for sales of 200 peices, 300 pieces. Purchase cost 1100 per peice. Sales cost 1800 per piece. Expenses per month
Distribute the combined cost using the gross profit rate : Distribute the combined cost on the assumption that 420 kg of finished products with a market value of 10 dollars / kg are released
Calculate the total cost of the units transferred to pahse : Calculate the total cost of the units transferred to the second phase, Calculate the total cost of the units remaining at the end of the period.
What amount reported as loss on note receivable discounting : Company accepted from a customer a P4,000,000, 90-day, 12% note dated August 31, 2019. What amount should be reported as loss on note receivable discounting

Reviews

Write a Review

Accounting Basics Questions & Answers

  Determine Bob realized and recognized gain on the exchange

Like-Kind Exchange: Related Parties. Bob owns a duplex used as rental property. Determine Bob realized and recognized gain on the exchange

  How can a company protect itself from rationalization

What types of rationalization could a person use to justify misconduct? How can a company protect itself from rationalization as a part of fraud?

  What two actions could be used to remedy such a call

What relevance do margin requirements have in the short-selling process? What would have to happen to experience a margin call on a short-sale transaction?

  Paschals parasailing enterprises has estimated that fixed

paschals parasailing enterprises has estimated that fixed costs per month are 115600 and variable cost per dollar of

  Advance products inc has just organized a new division to

advance products inc. has just organized a new division to manufacture and sell specially designed tables using select

  The weaver watch company sells watches for 25 the fixed

the weaver watch company sells watches for 25 the fixed costs are 140000 and variable costs are 15 per watch.a. what is

  Determine ONeal cost of goods manufactured

Determine O'Neal's cost of goods manufactured for the month ended January 31, 2010. Enter all amounts as positive numbers

  What would be the estimated cost of equity

The risk-free rate, rRF, is 5.0%, the market risk premium, RPM, is 6.0%, What would be the estimated cost of equity

  Ringemup inc had net income of 471700 for its fiscal year

ringemup inc. had net income of 471700 for its fiscal year ended october 31 2010. during the year the company had

  What amount of bond interest expense is recorded

Sanchez Company issues 10%, 15-year bonds with a par value of $120,000 and semiannual interest payments. On the issue date, the annual market rate.

  Research a specific company of your choice and identify

research a specific company of your choice and identify some of the managerial decisions that were made over time and

  Abrogation of the academics duty

Do you think that this represents an abrogation of the academics duty to serve the community that supports them - reports generated in accordance with accounting standards?

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