The Superior Real Estate Corporation reported rental income totaling $175,000 for the year ending December 31, 2018. The following information was obtained from Superior Corporation's balance sheets: 1/1/18 12/31/18 Unearned Rent$7,500 $6,750 Rent Receivable$9,250 $6,750 How much cash did Superior collect from its tenants during 2018?
A. $175,750
B. $171,750
C. $178,250
D. $176,750
Answer: D
You might also like to view...
Which one of the following would not be considered an advantage of the corporate form of organization?
a. government regulation b. separate legal existence c. continuous life d. limited liability of stockholders
When a testator distributes the same amount of money to all of his descendents, the method of gifting is known as:
A) Arbitrary and unfair. B) Fair and equitable. C) Per-Stirpes. D) Per-Capita.
A negotiable promissory note must contain
a. a date. b. the letters IOU. c. the words value received. d. words indicating a promise to pay.
Former Prosecutor Michael Nifong of Durham County, North Carolina:
a. Withheld evidence from defense attorneys. b. Conducted line-ups inappropriately. c. Embezzled from the county. d. Both a and b e. a, b and c