Payment on 6111 for 12 months of advance rent 4800 monthly, Ask an Expert

Accounting

Art Aubrey owns and operates an apartment building. During 2011, he received the following:

Payment on 6/1/11 for 12 months of advance rent: $4,800
Monthly rent payments: $43,200
Security deposits to be returned to tenants at end of lease: $3,000
Payments for cancelling a lease: $400
Deductible maintenance rental expenses paid by tenants: $600

What is Art's gross rental income?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M952665

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