If a tenant has a percentage lease at 5% of sales what is the annual rent...
Homework Answers
1. Apartment has 100 units with total area of 100,000 Square Feet (SF). Thus each unit is of 1000 SF.
Monthly sales = 1000 *35= 35000
Annual Rent amount = 35000*5%*12 (months) = USD 21000.
2. Parking Ratio = Parking space/No. of Units = 250/100 = 2.5.
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#5.
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#5.
The unearned rent account arose through the pre-payment of rent by
a tenant in the building for a 12 month period beginning August 1,
2020
REQUIRED: prepare the annual year and adjusting journal
entries indicated by the data above
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