In 2024, Ryan Management collected rent revenue for 2025 tenant occupancy. For financial reporting, the...
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In Ryan Management collected rent revenue for tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in The deferred portion of the rent collected in was $ million. Taxable income is $ million in No temporary differences existed at the beginning of the year, and the tax rate is Prepare the appropriate journal entry to record income taxes in Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers in millionsrounded to decimal place ie should be entered as
In Ryan Management collected rent revenue for tenant occupancy. For financial reporting, the rent is recorded as deferred revenue and then recognized as revenue in the period tenants occupy rental property. For tax reporting, the rent is taxed when collected in The deferred portion of the rent collected in was $ million. Taxable income is $ million in No temporary differences existed at the beginning of the year, and the tax rate is Prepare the appropriate journal entry to record income taxes in Note: If no entry is required for a transactionevent select No journal entry required" in the first account field. Enter your answers in millionsrounded to decimal place ie should be entered as
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