Prepaid & outstanding
This query is : Resolved
14 September 2011
i am paying the staff accomodation rent for the period of 1/7/2011 to 30/6/2012 ie (12 months).
i have made the cheque on 14/9/2011. kindly let me know the entries for the same.
are these correct accounting entries ?
1/7/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
1/8/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
1/9/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
14/9/2011 OUTSTANDING RENT A/C DR. 12000
PREPAID RENT A/C DR 36000
TO BANK 48000
1/10/2011 STAFF ACCO RENT DR. 4000
TO PREPAID RENT 4000
SAME ENTRIES IN DATES 1ST NOV, DEC, JAN, FEB,MARCH, APRIL, MAY & JUNE.
I am just confused whether the rent gets outstanding on 1st day of the month or last day of the month????
i have made the cheque on 14/9/2011. kindly let me know the entries for the same.
are these correct accounting entries ?
1/7/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
1/8/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
1/9/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000
14/9/2011 OUTSTANDING RENT A/C DR. 12000
PREPAID RENT A/C DR 36000
TO BANK 48000
1/10/2011 STAFF ACCO RENT DR. 4000
TO PREPAID RENT 4000
SAME ENTRIES IN DATES 1ST NOV, DEC, JAN, FEB,MARCH, APRIL, MAY & JUNE.
I am just confused whether the rent gets outstanding on 1st day of the month or last day of the month????
CA Ayush Agarwal
(Expert)
14 September 2011
Last Day of month Always.
Provide it in Books always if outstanding
Provide it in Books always if outstanding
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