ABC Collects Rents from Several Properties

question 23

Multiple Choice

ABC collects rents from several properties. Prior to recording adjusting entries, assume the rent income account has a credit balance of $8000. Two adjustments are to be made at the end of the financial year (1) an accrual for accrued rent income of $600 (2) the unearned rent income account is to be decreased by $200. After processing these adjusting entries the amount of rent income to be shown in the income statement is:

• A) $8800.
• B) $8400.
• C) $7600.
• D) $7200.

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Definitions:

Student Files

Official records maintained by educational institutions containing personal and academic information about students.

Vellus Hairs

Fine, short, and lightly pigmented hair that covers most of the human body, serving as thermal insulation and sensation.

Terminal Hairs

refer to the thick, long, and pigmented hairs that grow in areas such as the scalp, face, and pubic region.

Axillary Region

The area of the body under the joint where the arm connects to the shoulder.