Liability of exp.
This query is : Resolved
Rakesh KUmar
(Querist)
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"
Rupesh Jain
(Expert)
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
Rupesh Jain
(Expert)
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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