The Unearned Rent account had a balance of $18,000 at the beginning of the period and a balance of $36,000 at the end of the period. If the rent earned during the period was $5,000, what was the amount of cash received toward advance rent?
a. $13,000
b. $5,000
c. $49,000
d. $23,000
Answer: d. $23,000
Business
You might also like to view...
According to the pecking order theory, MBG's announced capital structure change:
A. is optimal because debt is cheaper than equity on an after-tax basis. B. may be optimal if new debt is issued after new equity is made complete use of as a source of capital. C. may be optimal if new debt is issued after internally generated funds are made complete use of as a source of capital
Business
U.S. individuals are exempted from being prosecuted for bribery under the Foreign Corrupt Practices Act
Indicate whether the statement is true or false
Business