Professional Documents
Culture Documents
Rent Analysis
For the year ended 12/31/05
Tickmark Legends
A - The auditor obtained the total lease payments from the lease agreement and noted the lease term from 8/1/04 to 7/31/08. The lease payment was increa
2% based on CPI calculation. As such, 2007 & 2008 lease payments are calculated based on a 2% CPI adjustment assumption.
B - Reviewed rent payment schedule and actual rent checks issued. The total lease payments since the inception of the lease agreement 8/1/04 to 12/31/05
$431,861. The total rent payment for the same period based on average rent is $442,388. As such, propose an adjustment as shown above.
5
180,321
131,377 183,927
134,004 187,606
3,839
6,688
Rent Liab (BS) (10,527)