Bruder Realtors always collects rent in advance from its customers. The 2019 income statement for Bruder reports rent revenue of $126,000. Assume all rent is paid in cash. The related balance sheet accounts for the beginning and end of the year were:
Based on this information, the amount of cash collected during 2019 from Bruder's customers was:

Question

Bruder Realtors always collects rent in advance from its customers. The 2019 income statement for Bruder reports rent revenue of $126,000. Assume all rent is paid in cash. The related balance sheet accounts for the beginning and end of the year were:
 Based on this information, the amount of cash collected during 2019 from Bruder's customers was:

Quizplus · Accepted Answer

$21,000 + X - $126,000 = $39,000
X = $39,000 - $21,000 + $126,000
X = $144,000

Bruder Realtors Always Collects Rent in Advance from Its Customers