Mort is the owner of an apartment building containing 10 identical apartments. Mort resides in...
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Accounting
Mort is the owner of an apartment building containing 10 identical apartments. Mort resides in one apartment and rents out the remaining units. For 2021 the following information is available:Gross rents $ 21,600; Total utilities 2,500; Maintenance/repairs for rental apartments only 1,200; Advertising for vacant apartments 300; Depreciation of building 5,000. What amount should Mort report as rental income for 2021? Question options: a) $ 13,500 b) None of the above c) $ 12,600 d) $ 13,350 e) $ 17,600
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