Solved: Received in january 2009 rent that was due in december, Accounting Basics

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Received in january 2009 rent that was due in december

Question - Billy Dent, as the owner of an apartment building, receives and makes the following payments during 2009:

Received in January 2009 rent that was due in December 2008-----$5,000

Received in December 2009 rent not due until January...$4,000

Security deposit which is to be refunded when tenant vacates the apartment.....$500

How much rental income must Billy Dent include on his 2009 income tax return?

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Accounting Basics: Received in january 2009 rent that was due in december

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Accounting Basics: Received in january 2009 rent that was due in december

Reference No:- TGS02567846

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