A company closing its acconts in december..its paying
10000/-as rent......in the month of august it paid 4 months
rent as advance...how will u account this
Answer Posted / ravipolina
it was the rent which was paid in advance for comming months
so we can treat this is rent paid in advance. so the journal
entry recorded at the time of advance paid for 4 months is
Advance rent a/c dr 10000
to cash /bank 10000
in the month of december entry will become as
rent a/c dr 10000
to cash/bank 10000
Is This Answer Correct ? | 3 Yes | 4 No |
Post New Answer View All Answers
What are time sheets? How are they maintained?
What is difference between Cash Flow and fund flow
discuss seperate determination concept
Explain what is liabilities and what all does include in current liabilities?
What is the dual aspect concept?
Tell us what is icai?
What are the characteristic features of financial accounting?
How Advances to suppliers for purchase of raw materials is to be considered while calculating Drawing Power
Revenue Expenditure
What is tally and its features?
What does the abbreviation m mean in accounting?
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
how intangible assets are entered in B/s. plz send me the answer of this question in my e-mailid-prabhatsingh873@gmail.com
GOODS LOST BY FIRE 100 RS, INSURANCE MONY RECEIVED 120,40 PENDING FOR FINAL SETTLEMENT- Journal Entry
Are you comfortable with cold-calling?