Liability of exp.
This query is : Resolved
29 June 2013
Give answer with illustration
"Proprietor used a rented building both for business purpose and as well as residence equally. The rent paid during the year for the building was Rs.1,32,000 debited to rent expenses A/c in the books of business. One month rent is still outstanding. Liability of the business for rent outstanding"
"Proprietor used a rented building both for business purpose and as well as residence equally. The rent paid during the year for the building was Rs.1,32,000 debited to rent expenses A/c in the books of business. One month rent is still outstanding. Liability of the business for rent outstanding"
29 June 2013
part of business use building will debit to business exp a/c
if rent is 12000 per month
then rs. 6000 wil debit to rent a/c of business a/c
rent a/c 6000
to vendor a/c 6000
if rent is 12000 per month
then rs. 6000 wil debit to rent a/c of business a/c
rent a/c 6000
to vendor a/c 6000
29 June 2013
for o/s
31.3
rent a/c
rent payable a/c
on payment date
rent payable a/c
bank a/c
31.3
rent a/c
rent payable a/c
on payment date
rent payable a/c
bank a/c
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