Rent Paid Rs.12000/- (which is included for the whole year
i.e Jan to Dec) and they have asked me to give Journal
Entry for the
Entry for the Month of Jan, Feb and March
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Answer / shilpi
rent a/c 3000
prepaid rent a/c 9000
To cash a/c 12000
| Is This Answer Correct ? | 4 Yes | 2 No |
Answer / pawan bohara
what is the stock revalution,pls suggest me
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / amit raut
By Rent a/c Dr 3000
By Advance rent a/c Dr 9000
To Cash/Bank a/c Cr 12000
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / sumit kumar
when rent is paid it should be mention
if it is paid on april
Rent A/c 3000
prepaid rent 9000
to cash 12000
in the month of may
rent A/c 3000
to prepaid Rent 3000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / kamran jamal
Correction in above entry for the month of March.
DEBIT CREDIT
----- ------
JAN
PREPAID RENT 12000
CASH 12000
(To book liabilites in books)
--------------------------------------------------
DEBIT CREDIT
----- ------
JAN
RENT EXPENSE 1000
PREPAID RENT 1000
(To charge 1st month Rent Expense in books
-------------------------------------------------
DEBIT CREDIT
----- ------
FEB
RENT EXPENSE 1000
PREPAID RENT 1000
(To charge 2nd month Rent Expense in books
-------------------------------------------------
DEBIT CREDIT
----- ------
MAR
RENT EXPENSE 1000
PREPAID RENT 1000
(To charge 3rd month Rent Expense in books)
-------------------------------------------------
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / firos
Rent A/c Dr 3000
Advance rent A/c dr 9000
To cash a/c 12000
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / seshagiri
ACTUALLY WE FALLOW THE FINANCIAL YEAR APRIL TO MARCH. IN
THIS QUESTION MENTIONED JANUARY TO DECEMBER MEANS JANUARY
TO MARCH IS PREVIOUS YEAR. SO WE PASS THE OUTSTANDING ENTYR
TO EACH MONTH.
31ST JAN
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
28TH FEB
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
31ST MARCH
RENT ACCOUNT ......DR. 1000
TO. OUTSTANDING EXP A/C 1000
THE FINANCIAL YEAR ENDING THE OUTSTANDING EXP A/C IS 3000/-
IN CURRENT FINANCIAL YEAR IS APRIL TO NOVEMBER IS
OUTSTANDING EXP IS 8000/- DECEMBER MONTH DEBITED TO
DIRECTLY RENT ACCOUNT
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sujeet kumar jha
RENT A/C DR 3000/-
PREPAID RENT A/C DR 9000/-
TO CASH/BANK A/C 12000/-
(BEING PAID RENT JAN. TO MARCH(3 X 1000) AND REST AMT.
9000/- ADVANCE FOR THE MONT APRIL TO DECEMBER)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / naresh c.
Rent a/c.......Dr 3000
Advance Rent a/c.....Dr 3000
To Cash a/c 12000
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / rizwan
1. prepaid rent 12000 dr
cash/bank 12000 cr
JAN-MAR
2. rent expenses 3000 dr
prepaid rent 3000 cr
NOW if we look dis entry there prepaid rent is drecrease
from 12000 to 9000 and diffrence protion are expense out ...
its right entry i think ....
| Is This Answer Correct ? | 0 Yes | 0 No |
Liabilities: 2006 2007 Assets 2006 2007 Trade Creditiors 100 40 Cash atBank 100 65 Bills Payable 50 60 Account/R 105 120 Outstanding Expenses 25 20 B/R 130 140 Bonds Payable 220 140 Inventory 110 40 Accumulated Depreciation: Machinery 120 160 -on Machinery 30 35 Building 300 310 -On Building 75 85 Land 60 130 Reserves 100 115 Patents 55 60 Retained Earning 130 170 share Capital 250 360 Profit from operation after providing Rs.10,000as depreciation on building and Rs.10,000 on machinery and Rs.5,000 as amortization on patents for the year 'April 06- March07' was Rs.35,000. Other revenues for the year were Rs.40,000. An old machine with original cost of Rs.15,000 was sold at a loss of rs.5,000. Prepare Fund Flow Statment and Cash Flow Statment for the year ending March 31 2007 based on the information given above.
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