On 1 January 2020, a tenant paid OMR 18000 in advance for rental to Dhofar LLC for the next six months. At the end of April 2020, 4 month advanced rental amount has been expired. Record the expired rental income at the end of April 2020. Select one: a. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 18000 18000 b. Date Particulars Debit (OMR) Credit (OMR) April 30 Cash Dr. Unearned Rental Income Cr. 18000 18000 c. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Income Receivable Dr. Rental Income Cr. 12000 12000 d. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 12000 12000 e. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Expenses Dr. Prepaid Rent Cr. 12000 12000 f. Date Particulars Debit (OMR) Credit (OMR) April 30 Unearned Rental Income Dr. Rental Income Cr. 12000 12000
On 1 January 2020, a tenant paid OMR 18000 in advance for rental to Dhofar LLC for the next six months. At the end of April 2020, 4 month advanced rental amount has been expired. Record the expired rental income at the end of April 2020. Select one: a. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 18000 18000 b. Date Particulars Debit (OMR) Credit (OMR) April 30 Cash Dr. Unearned Rental Income Cr. 18000 18000 c. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Income Receivable Dr. Rental Income Cr. 12000 12000 d. Date Particulars Debit (OMR) Credit (OMR) April 30 Prepaid Rental Income Dr. Rental Income Cr. 12000 12000 e. Date Particulars Debit (OMR) Credit (OMR) April 30 Rental Expenses Dr. Prepaid Rent Cr. 12000 12000 f. Date Particulars Debit (OMR) Credit (OMR) April 30 Unearned Rental Income Dr. Rental Income Cr. 12000 12000
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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On 1 January 2020, a tenant paid OMR 18000 in advance for rental to Dhofar LLC for the next six months. At the end of April 2020, 4 month advanced rental amount has been expired. Record the expired rental income at the end of April 2020.
Select one:
a.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Prepaid Rental Income Dr. Rental Income Cr. |
18000 |
18000 |
b.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Cash Dr. Unearned Rental Income Cr. |
18000 |
18000 |
c.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Rental Income Receivable Dr. Rental Income Cr. |
12000 |
12000 |
d.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Prepaid Rental Income Dr. Rental Income Cr. |
12000 |
12000 |
e.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Rental Expenses Dr. Prepaid Rent Cr. |
12000 |
12000 |
f.
Date | Particulars | Debit (OMR) | Credit (OMR) |
April 30 | Unearned Rental Income Dr. Rental Income Cr. |
12000 |
12000 |
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