Solved: Art aubrey owns and operates an apartment building monthly, Accounting Basics

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Art aubrey owns and operates an apartment building monthly

Question - Art Aubrey owns and operates an apartment building. During 2015, he received the following:

Payment on 6/1/15 for 12 months of advance rent $4,800

Monthly rent payments $43,200

Security Deposits to be returned to tenants at end of lease $3,000

Payments for cancelling a lease $400.00

Deductible maintenance rental expenses paid by tenants $600

What is Art's gross rental income?

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Accounting Basics: Art aubrey owns and operates an apartment building monthly

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