Taylor,a Cash Basis Architect,rents the Building in Which His Office

question 135

Essay

Taylor,a cash basis architect,rents the building in which his office is located for $5,000 per month.He commenced his practice on February 1,2011.In order to guarantee no rent increases during an 18-month period,he signed an 18-month lease and prepaid the $90,000 on February 1,2011.How much can Taylor deduct as rent expense for 2011?

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Definitions:

General Population

The total group of individuals in a specific geographic area or from whom data can be collected.

Clear And Convincing Proof

A standard of evidence requiring a high degree of certainty to persuade that a proposition is significantly more likely to be true than not.

Total Certainty

The absolute assurance or conviction about the truth or accuracy of something.

Reasonable Doubt

A standard of proof in criminal cases requiring the prosecutor to convince the jury of the defendant's guilt to a moral certainty that leaves no room for reasonable doubt.