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28. On July 01, 2011, a company leased a piece of land under a 3-year lease. Total rent for the term of the lease will be P3,600,000 payable as follows. All payments were made when due. How much is the lessor's rent revenue for the fiscal year ended June 3O, 2012 suppose it classifies the lease as an operating lease? * 12 months at P50,000 P600,000 12 moths at P75,000 P900,000 12 months at P175,000 P2,100,000 a. P600,000 b. P900,000 c. P1,200,000 O d. P2,100,000

28. On July 01, 2011, a company leased a piece of land under a 3-year lease. Total rent for the term of the lease will be P3,600,000 payable as follows. All payments were made when due. How much is the lessor's rent revenue for the fiscal year ended June 3O, 2012 suppose it classifies the lease as an operating lease? * 12 months at P50,000 P600,000 12 moths at P75,000 P900,000 12 months at P175,000 P2,100,000 a. P600,000 b. P900,000 c. P1,200,000 O d. P2,100,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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28. On July 01, 2011, a company leased a piece of land under a 3-year lease. Total rent for the term of the lease will be P3,600,000 payable as follows. All payments were made when due. How much is the lessor's rent revenue for the fiscal year ended June 30, 2012 suppose it classifies the lease as an operating lease? * 12 months at P50,000 P600,000 12 moths at P75,000 P900,000 12 months at P175,000 P2,100,000 a. P600,000 O b. P900,000 O c. P1,200,000 O d. P2,100,000
Transcribed Image Text:28. On July 01, 2011, a company leased a piece of land under a 3-year lease. Total rent for the term of the lease will be P3,600,000 payable as follows. All payments were made when due. How much is the lessor's rent revenue for the fiscal year ended June 30, 2012 suppose it classifies the lease as an operating lease? * 12 months at P50,000 P600,000 12 moths at P75,000 P900,000 12 months at P175,000 P2,100,000 a. P600,000 O b. P900,000 O c. P1,200,000 O d. P2,100,000
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