Let’s go step by step to find the
total rental income for January based on the table.
We are looking at the “Rental Income” section at the bottom of the sheet, specifically the row labeled
“Jan.”
In that row, we see payments recorded for properties A, B, and C. Properties D and E have no entries for January — so we assume they paid $0 in January (or haven’t been recorded yet).
Let’s list what’s there:
-
Property A:
Date: 2/4/19 → Amount: $1,500.00 + Late Fee: $50.00
→ Total for A = $1,500 + $50 =
$1,550.00
Wait — hold on! The date says
2/4/19, which is
February 4th, not January. But the row is labeled “Jan.” That might be a mistake in labeling, or maybe it means “payment received in January for January rent”? Let’s check the other dates.
Actually, looking again:
The row is labeled
“Jan.” — this likely means
rent due for January, even if paid slightly later. In real life, sometimes tenants pay a few days late. So we’ll treat all amounts in the “Jan.” row as
January rental income, regardless of exact payment date.
So let’s add up everything in the “Jan.” row:
→ Property A: $1,500.00 (rent) + $50.00 (late fee) =
$1,550.00
→ Property B: $1,250.00 (rent) + $0.00 (late fee) =
$1,250.00
→ Property C: $1,780.00 (rent) + $0.00 (late fee) =
$1,780.00
→ Property D: No entry →
$0.00
→ Property E: No entry →
$0.00
Now add them:
$1,550.00 (A)
+ $1,250.00 (B)
+ $1,780.00 (C)
= ?
Let’s compute:
First, $1,550 + $1,250 = $2,800
Then, $2,800 + $1,780 =
$4,580.00
Also, notice in the far right column under “Total” for the Jan. row, it already shows
$4,580.00 — which matches our calculation.
✔ So the total rental income for January (including late fees) is
$4,580.00
---
Final Answer:
$4,580.00
Parent Tip: Review the logic above to help your child master the concept of income expense worksheet.
