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Rent Payable Entry but there one Fundamental Assumption

Others 205 views 4 replies
There are Mr.Husband and Mrs.wife both are Doctor, But Husband paid Hospital Rent to his Wife, What is the Entry recorded in the Books of Mr.Husband at the Year end and under which Fundamental Assumption???
Replies (4)
Entry be
Rent Dr. and Bank A/c Cr
But there is One thing that, Rent is Payable not Paid?
Do not raise similar query again and continue with one
Entry would be Rent A/C Dr To Rent Payable A/C


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