Chat with us, powered by LiveChat Following are summarized transaction data for Luxu | Writedemy

Following are summarized transaction data for Luxu

Following are summarized transaction data for Luxu

Following are summarized transaction data for Luxury Apartments, Inc., for the year ending 2010 June 30. The company owns and operates an apartment building. Rent revenue from building owned USD 150,000 Building repairs 2870 Building cleaning, labor cost 3185 Property taxes on the building 4000 Insurance on the building 1225 Commissions paid to rental agent 5000 Legal and accounting fees (for preparation of tenant leases) 1260 Utilities expense 8225 Cost of new awnings (installed on June 30, will last 10 years) 5000Of the USD 150,000 rent revenue, USD 5,000 was not collected in cash until 2010 July 5. Prepare an income statement for the year ended 2010 June 30.

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