What amount would Main show as deferred rent expense at December 31, 2003?


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What amount would Main show as deferred rent expense at December 31, 2003? 1 answer below » Main, a pharmaceutical company, leased office space from Ash. Main took possession and began to use the building on July 1, 2000. Rent was due the first day of each month. Monthly lease payments escalated over the 5-year period of the lease as follows: View complete question » Period Lease payment July 1, 2000 – September 30, 2000 $0 – rent abatement during move-in, construction October, 1, 2000 – June 30, 2001 17,500 July 1, 2001 – June 30, 2002 19,000 July 1, 2002 – June 30, 2003 20,500 July 1, 2003 – June 30, 2004 23,000 July 1, 2004 – June Main, a pharmaceutical company, leased office space from Ash. Main took possession and began to use the building on July 1, 2000. Rent was due the first day of each month. Monthly lease payments escalated over the 5-year period of the lease as follows: Period Lease payment July 1, 2000 – September 30, 2000 $0 – rent abatement during move-in, construction October, 1, 2000 – June 30, 2001 17,500 July 1, 2001 – June 30, 2002 19,000 July 1, 2002 – June 30, 2003 20,500 July 1, 2003 – June 30, 2004 23,000 July 1, 2004 – June 30, 2005 24,500 What amount would Main show as deferred rent expense at December 31, 2003? $50,658 $52,580 $68,575 $71,550 View less » Jul 08 2014 12:35 PM

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