Problem 12-18 (AICPA Adapted) Barnel Company owns and manages apartments. On signing a lease, each tenant must pay the first month and last month rent and a P50,000 refundable security deposit. The security deposit is rarely refundable in total because deaning costs of P15,000 per apartment are almost always deducted. About 30% of the time, the tenants are also charged for damages to the apartment which typically cost P10,000. Ifa one-year lease is signed on a P90,000 per monțh apartment, what amount should be reported as refundable security deposit? a 140,000 b. 50,000 C. 35,000 d. 32,000 10/19

Problem 12-18 (AICPA Adapted) Barnel Company owns and manages apartments. On signing a lease, each tenant must pay the first month and last month rent and a P50,000 refundable security deposit. The security deposit is rarely refundable in total because deaning costs of P15,000 per apartment are almost always deducted. About 30% of the time, the tenants are also charged for damages to the apartment which typically cost P10,000. Ifa one-year lease is signed on a P90,000 per monțh apartment, what amount should be reported as refundable security deposit? a 140,000 b. 50,000 C. 35,000 d. 32,000 10/19

CONCEPTS IN FED.TAX.,2020-W/ACCESS

20th Edition

ISBN:9780357110362

Author:Murphy

Publisher:Murphy

Chapter3: Income Sources

Section: Chapter Questions

Problem 96IIP

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Barnel Company owns and manages apartments. On signing a lease, each tenant must pay the first month and last month rent and a P50,000 refundable security deposit. The security deposit is rarely refundable in total because cleaning costs of P15,000 per apartment are almost always deducted. About 30% of the time, the tenants are also charged for damages to the apartment which typically cost P10,000. If a one-year lease is signed.on a P90,000 per month apartment, what amount should be reported as refundable security deposit? а. 25,000 b. 50,000 с. 35,000 d. 32,000
12- 8. Winter Apartments is offering $50 off your monthly rent when signing month lease AND the first months' rent for only $50. Two bedrooms normally rent for $1300 and deposits are $0-$1300 depending on credit. How should the Rent, Special Type, Special Amount and Lease Term be entered? Rent 1300 O a. Rent 1250 O c. Special Type Special 1234 Amount 3-One time s 600 Special Type Special 1234 Amount 4-Other (see 50 Lease Term 12 12 Lease Term 12 12 Rent 1250 O b. Special Type Special 1234 Amount 4-Other (see 1200 Lease Term 12 12
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