Ask Question
BusinessBusiness
10 November, 04:25

Prepaid rent, representing rent for the next six months' occupancy, would be reported on the tenant's balance sheet as a (n) a. liability b. asset c. contra liability and. stockholders' equity account

+1
Answers (1)
  1. 10 November, 06:21
    0
    Asset

    Explanation:

    n asset is a resource that has some economic value. It could be a skill, capital, or property used to generate income or a benefit to a firm or an individual. Assets can be classified as current and long term assets.

    Prepaid rent is an asset. It is the rent that has not been consumed. The tenant will use that prepaid rent to generate more income for the next six months. Prepaid rent is an advance payment, which implies that the landlord owes the tenant. Overdue rent or unpaid rent contrasts prepaid rent, and are a liability.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Prepaid rent, representing rent for the next six months' occupancy, would be reported on the tenant's balance sheet as a (n) a. liability ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Davita Spencer is a manager at Half Dome Asset Management. She can generate an alpha of 2% a year up to $100 million. After that her skills are spread too thin, so she cannot add value, and her alpha is zero.
Answers (1)
A perfectly competitive firm produces 3,000 units of a good at a total cost of $36,000. The fixed cost of production is $20,000. The price of each good is $10. Should the firm continue to produce in the short run?
Answers (1)
Frederickson Office Supplies recently reported $12,500 of sales, $7,250 of operating costs other than depreciation, and $1,250 of depreciation. The company had no amortization charges and no non-operating income.
Answers (2)
What is a tax? (personal finance)
Answers (2)
The difference between the accounting process and the accounting cycle is
Answers (1)
New Questions in Business
Continuous quality improvement depends heavily upon: Select one: a. hard work b. monitoring special causes of variance c. use of checklists d. employment of the PDCA cycle
Answers (1)
The difficulty in cost-benefit analysis is that the benefits are usually evident and easily measurable, while the costs are not always evident or measurable. A) True B) False
Answers (1)
What's the difference between price skimming and price penetration strategies?
Answers (1)
The grocery store has bulk pecans on sale, which is great since you're planning on making 8 pecan pies for a wedding. How many pounds of pecans should you buy?
Answers (2)
If a country imposes a tariff on imported shoes, we expect the domestic price of shoes to ... And the quantity of shoes consumed in the domestic market to ... a.) Fall; rise b.) Fall; fall c.) Rise; fall d.) Rise; rise
Answers (1)
Home » Business » Prepaid rent, representing rent for the next six months' occupancy, would be reported on the tenant's balance sheet as a (n) a. liability b. asset c. contra liability and. stockholders' equity account
Sign Up Forgot Password?