Office Palace,Inc

question 24

Multiple Choice

Office Palace,Inc.,leased an all-in-one printer to a new customer,Ashley,on December 27,2013.The printer was to rent for $600 per month for a period of 36 months beginning January 1,2014.Ashley was required to pay the first and last month's rent at the time the lease was signed.Ashley was also required to pay a $1,500 damage deposit.Office Palace must recognize as income for the lease:

• A)$0 in 2013,if Office Palace is an accrual basis taxpayer.
• B)$7,800 in 2014,if Office Palace is a cash basis taxpayer.
• C)$2,700 in 2013,if Office Palace is a cash basis taxpayer.
• D)$1,200 in 2013,if Office Palace is an accrual basis taxpayer.
• E)None of the above.

---

Definitions:

Constructive Coping Tactic

Strategies or approaches utilized to deal with stress, challenges, or problems in a positive manner that promotes personal growth and solution-finding rather than exacerbating the situation.

Appraisal-focused

Strategies dealing with stress that involve changing one’s interpretation or understanding of the stressor.

Problem-focused

A coping strategy aimed at addressing the root cause of stress or a problem rather than simply alleviating its symptoms.

Job Openings

Available employment opportunities advertised by employers seeking to hire.