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 Posted / 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
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