Which of the following is the amount of rent expense reported on the income statement?

Question

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Rent expense reported on the income statement is the amount of rent used up in the current period to earn revenue. It is calculated by subtracting any prepaid rent or unpaid rent from the cash paid for rent in the current period. Option A and B refer to the cash paid for rent, which is not the same as rent expense. Option D is incorrect as an increase in profit is not directly related to rent expense on the income statement.

Which of the Following Is the Amount of Rent Expense