Rent paid by partnership firm
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 February 2018
Dear All,
Can anyone please assist with the journal entry for rent paid by a partnership firm to a partner.
Can anyone please assist with the journal entry for rent paid by a partnership firm to a partner.
05 February 2018
If you are paid rent to your partner...
Dr. Rent Paid A/c - XXX
Cr. Partner Capital (Current/Drawing) A/c - XXX
Payment :
Dr. Partner Capital (Current/Drawing) A/c - XXX
Cr. Bank A/c - XXX
Dr. Rent Paid A/c - XXX
Cr. Partner Capital (Current/Drawing) A/c - XXX
Payment :
Dr. Partner Capital (Current/Drawing) A/c - XXX
Cr. Bank A/c - XXX
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