Interested to Buy Any Domain ? << Click Here >> for more details...
Outstanding rent
- 11 Answers
- 51181 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / shivaranjani
Oustanding Rent is the rent which is due but not has been
paid yet.
| Is This Answer Correct ? | 159 Yes | 8 No |
Answer / kuldeep kumar
OUTSTANDING RENT MEANS THAT "UNPAID" AT THE END OF THE DUE
DATE...
FOR THIS ENTRY WILL BE:
RENT A/C DR
TO OUTSTANDING RENT A/C
| Is This Answer Correct ? | 61 Yes | 4 No |
Answer / gopi
in my view first its a liability so we have show in liabilty
side as well as p&L account Debit side
| Is This Answer Correct ? | 52 Yes | 12 No |
Answer / k phalguna rao
out standing rent is acutally expenses for that particular
financial year it effects net profit, but it was not paid
in the same year so it is showing as out standing rent so
first we debit rent a/c hence your net profit decrease but
your assets (Cash) balance is same because we are not paid
in this period so we have to credit rent out sanding a/c
therefore your net profit decresed but rent out standing
show in libility side
Note: we can tranfer our assets and liabilities for the
next financial year but we cann't transfer expenses or
profits
Ex: Rent payable for the month of 31st march for Rs. 1000/-
for the f/y 2009-10
on 31.03.2010
Rent a/c Dr. 1000
To Rent outstanding a/c (liability) 1000
suppose we have paid the o/s rent on 10.04.10
outstanding rent a/c dr 1000
To Cash/Bank a/c 1000
in the financial year 2010-11 balance sheet o/s rent
(liability)decrease and cash/bank (Assets) decresed for
1000/- each side
| Is This Answer Correct ? | 32 Yes | 5 No |
Answer / suresh dhami
It means the expenses with are related to the current period
but will be paid in the next year.
| Is This Answer Correct ? | 12 Yes | 6 No |
Answer / jaya nanda kishore
outstanding rent is rent which is not yet paid its a nominal account
| Is This Answer Correct ? | 11 Yes | 10 No |
Answer / anil ahuja
In my openion expenses occured but not paid within
stipulated period
| Is This Answer Correct ? | 7 Yes | 7 No |
I am going to take interview of some candidate for the position of Accountant. Therefore, I want to know what type of question I shall be ask to the candidates. Please suggest.
Can any one tell me about Accounting Software, which Accounting software is useful for my studies ?
what is demerger?
After close Balance Sheet, we find a expense which was wrongly debited in Profit and Loss A/c. How we adjust next accounting period?
Can u please send me a set of accounting base questoin with answer,genraly ask by interviewer?
if a company purchased cell phones for employees how to treat that expenses is it asset for the company under which ledger it will come pls tell me friends?
As there is a two types of rates of depreciation i.e as per Income tax Act & As per Company Law.But, in accounting process which of these rates should be taken ?
How to show Airticket Expense on Company's A/c as Company expense
what is contra entry . plz explain with example.
what is defference between direct and indirect ezpences
what is different between accouts receivable and billing?
Tell me deferred taxation is a part of which equity?
Audit 
