For refund amount
This query is : Resolved
15 April 2016
we paid exhibition stall rent which is conducted in dubai . after the completion of exhibition , we received a refund amount for excess payment. so that excess amount we are added to capital account of proprietor. ios it correct or not ? please resolve.
15 April 2016
It is not right, Credit the amount to exhibition stall rent ac.
15 April 2016
Excess amount of refund need to be set off against rent expense. So it will come out with net rent expense.
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