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Grow your credit score. The amount of prepaid rent that would appear on the January 31 balance sheet after adjustment is The company's monthly rent is $1,000. Gracie, Inc. made a prepaid rent payment of $2,800 on January 1. Once empowered with RentPayment, you can collect rent on time, reduce collection costs, and deposit directly into your account. $2,100. Austin, Inc. made a Prepaid Rent payment of $3,500 on January 1st. 40. The tenant has made a good-faith effort to apply for available government assistance to pay rent; The tenant expects to earn less than $99,000 individually ($199,000 jointly) in 2020, or reported no income in 2019, or received a stimulus check in 2020; The tenant cannot pay full rent… Exercise 3-50 Prepayment of Expenses JDM Inc. made the following prepayments for expense items during 2013; a. Prepaid building rent for 1 year on April 1 by paying $6,600. However, property lease or rent payments made to corporations and real estate agents do not necessitate a 1099. Activate credit building and get rewarded with each payment you make! Expense; contra asset 15. 89. b. Accumulated Depreciation and Depreciation Expense are classified, respectively, as. Example: Gracie, Inc. made a prepaid rent payment of $4,000 on January 1. Kick back and relax while you automatically pay over time for your order with a small amount from each paycheck. Gracie, Inc. made a prepaid rent payment of $2,800 on January 1. Prepaid expenses represent expenditures Expenditure An expenditure represents a payment with either cash or credit to purchase goods or services. Theamount of prepaid rent that would appear on the January 31 balance sheet after adjustment is. You can pay your rent by calling NYCHA’s Phone Payment System at 1-877-481-9947. How is prepaid rent identified Build payment history. Payments made after 5:00 PM EST will be credited the next business day. Plus, you receive highly detailed reporting to analyze … d. $1,400. Gracie Inc made a prepaid rent payment of 2800 on January 1 The companys Strayer University ACCOUNTING 26 - Spring 2019 ACCOUNTING 26TH EDITION BY WARREN -TEST BANK.docx. What type of accounts are depreciation expense and accumulated depreciation? The amount of prepaid rent that would appear on the January 31 balance sheet after adjustment is 14. An expenditure is recorded at a single point in that have not yet been recorded by a company as an expense, but have been paid for in advance. C) Paid cash in advance for services to be done. The company’s monthly rent is $1,000. Gracie, Inc. made a prepaid rent payment of $2,800 on January 1. c. $2,800. The company's monthly rent is $700. Gracie, Inc. made a prepaid rent payment of $4,000 on January 1. Form 1099 Rent Filing Requirement You must issue Form 1099-MISC to each individual and business that your company paid rental income in excess of $600 during a calendar year for property or space. Prepaid rent was debited for the amount paid. Payments made on weekends and federal holidays, when banks are closed, will be credited on the next business day. 254 pages. The amount of prepaid rent that would appear on the January 31 balance sheet after adjustment is:_____. The amount of prepaid rent that would appear on the January 31 balance sheet after adjustment is 6. For property managers, RentPayment streamlines your payment process. The company’s monthly rent is $700. The amount of Prepaid Rent that would appear on the January 31 balance sheet after adjustment is: A) $2,800 B) $700 C) $3,500 D) $1,750 41. Make automatic payments. $700. a. Payments made before 5:00 PM EST will be credited the same day. D) Paid cash for services to be performed. 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