The BT21 Group leases the office spaces in its own office building for a period from one year. Some tenants don't pay their rent on time. The organization earned P1,500,000 from renters in 2020. Rent receivables of P100,000 and unearned rent revenue of P40,000 were shown in the firm's concerning the financial status as of December 31, 2019. Rent Receivable and Rent Revenue were P75,000 and P1,350,000, respectively, according to the income statement for the year ended December 31, 2020 and the statement of financial status as of December 31, 2020. On December 31, 2020, how much unearned rent revenue did BT21 generate?

The BT21 Group leases the office spaces in its own office building for a period from one year. Some tenants don't pay their rent on time. The organization earned P1,500,000 from renters in 2020. Rent receivables of P100,000 and unearned rent revenue of P40,000 were shown in the firm's concerning the financial status as of December 31, 2019. Rent Receivable and Rent Revenue were P75,000 and P1,350,000, respectively, according to the income statement for the year ended December 31, 2020 and the statement of financial status as of December 31, 2020. On December 31, 2020, how much unearned rent revenue did BT21 generate?

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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