agreement, RS SHO ACorporation leased out is commercial space to RS pay a monthly rental of P150,000 payable every 1 day of the month. Upon signing of the agreement, RS shall deposit an equivalent of 3-month rental to SMto settle any unpaid obligations of the lessee upon termination of the lease. In addition, RS shall also deposit an advance 2-month rental to be applied after the 1" month. The parties signed the agreement on May 1, 2021. Compute the gross income of SM upon signing of the agreement: a. P150,000 O b. P450,000 O c. P900,000

agreement, RS SHO ACorporation leased out is commercial space to RS pay a monthly rental of P150,000 payable every 1 day of the month. Upon signing of the agreement, RS shall deposit an equivalent of 3-month rental to SMto settle any unpaid obligations of the lessee upon termination of the lease. In addition, RS shall also deposit an advance 2-month rental to be applied after the 1" month. The parties signed the agreement on May 1, 2021. Compute the gross income of SM upon signing of the agreement: a. P150,000 O b. P450,000 O c. P900,000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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