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Question 46 of 75. Mary Beth owns a rental house. Her current tenant, Carl, signed a two-year lease and moved into the house
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Ans: The correct option for the answer is option B i.e. $20,300

Working Note:

Annually rent received in cash form (for 11 months except of a November)= 1,600*11 = 17,600

Rent received in advance= 1,600

Fair value of heater= 1,100

Security deposits ( as its refundable therefore it will be nil)= 0

Rental income= $20,300

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