In July, Bruce Leases a Building to Vanessa for a Period

question 102

Multiple Choice

In July, Bruce leases a building to Vanessa for a period of twenty years at a monthly rental of $1,500. As part of the lease agreement, Vanessa pays a $3,000 security deposit. In addition, the lease agreement states that any improvements that Vanessa made to the building become Bruce's property. Prior to moving in on July 1, Vanessa makes improvements to the building at a cost of $13,000. How much gross income does Bruce have from the lease arrangement in the first year of the lease?

• A)$9,000
• B)$12,000
• C)$22,000
• D)$25,000
• E)None of the above.

Recognize the role of business ethics in building and maintaining stakeholder relationships.

Understand the formation and features of glaciers.

Identify and describe various glacial deposits (e.g., eskers, moraines).

Recognize the impact of glaciers on landscapes (e.g., U-shaped valleys, drumlins).

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Definitions:

Par Common Stock

The face value of common stock as designated in the corporate charter, which is the minimum amount that shares can be issued for.

Total Dividend

The sum of all dividends paid out to shareholders for a specific period, representing the share of profits distributed.

Reacquired Shares

Shares that were previously issued and have been bought back by the issuing company, reducing the amount of outstanding stock on the open market.

Common Stock

A type of security that represents ownership in a corporation, with holders possibly entitled to dividends and voting rights.