Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Accounting Basics Expert

Lillian Properties leased a building to Hopping Industries for a ten year term at an annual rental of $250,000. The lease began January 1, 2013, at which time Lillian received $1,000,000 covering the first two years' rent of $500,000 and a security deposit of $500,000. The deposit will not be returned to Hopping upon expiration of the lease, but will be applied to payment of rent for the last two years of the lease. What portion of the $1,000,000 should be shown as current and long-term liabilities, respectively, in Lillian's December 31, 2013 balance sheet?

(Answers shown with Current Liabilities listed first, Long-term Liabilities listed second. )

a) $500,000 $500,000

b) $250,000 $500,000

c) $500,000 $250,000

d) $ -0- $1,000,000

Accounting Basics, Accounting

  • Category:- Accounting Basics
  • Reference No.:- M947433

Have any Question? 


Related Questions in Accounting Basics

Question 1based upon the narrative describing the case what

Question 1: Based upon the narrative describing the case, what cultural element (per Ferraro) was most likely a major contributing factor to the accident? Question 2: If you were brought to the investigation, what recomm ...

Question 1important multiple-choice questions are to be

Question 1 Important: Multiple-choice questions are to be completed within the Online Learning Environment in your TX2 Assignment Submission section. This portion of the assignment will be automatically graded. Do not in ...

Assignment - you are an investment analystas the cfo of

Assignment - You Are an Investment Analyst As the CFO of your corporation, you are in charge of preparing and analyzing financial statements that will be presented to potential investors and creditors. However, before yo ...

Discussion1st discussionexamine the customer and vendor

Discussion 1st Discussion: Examine the customer and vendor functions in QuickBooks. • Use one scenario or example to explain a feature or function that will help you make better management decisions in regard to customer ...

Assignemntselect a research issue problem or opportunity

Assignemnt Select a research issue, problem, or opportunity that could benefit from hypothesis testing. It may be an issue related to your work or it may a more global type of problem. Develop a research hypothesis that ...

Accounting paperfor this assignment you will decide what

Accounting paper For this assignment, you will decide what type of budget to implement for a start-up company. Write a three to four page paper in which you: 1. Summarize the type of manufacturing company you plan to sta ...

Discussion 1-iasb and fasb mergersir david tweedie chairman

Discussion 1-IASB and FASB Merger? Sir David Tweedie, chairman of the International Accounting Standards Board (IASB), is quoted as saying that the IASB and the Financial Accounting Standards Board (FASB) will eventually ...

Excel spreadsheet and 1-2 pagesconsider the following

Excel Spreadsheet and 1-2 pages Consider the following scenario: Andre has asked you to evaluate his business, Andre's Hair Styling. Andre has five barbers working for him. (Andre is not one of them.) Each barber is paid ...

Assignmentmemos are one-page 750 word minimum single-spaced

Assignment Memos are one-page (750 word minimum) single-spaced essays (no more than 10 font) and are due in the morning on Blackboard before we discuss assigned readings (a physical copy should also be brought to class). ...

To write discussion post to given answerrequirementsdo not

To write discussion post to given answer Requirements: Do not use any direct quotes and/or cut and pasted information (i.e. your discussion is to be 100% your thoughts, ideals and insights). You can agree or disagree wit ...

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen