Yes
asset liability
Its an asset.
asset
Prepaid rent is the asset of compan as it is paid already but not due yet so it is current asset and shown in current assets under balance sheet.
Rent paid is typically considered an expense rather than an asset or liability. When rent is paid, it reduces the cash account (an asset) and is recorded as an expense on the income statement, reflecting the cost of using the rented space during that period. However, if rent is paid in advance, it may be classified as a prepaid expense, which is considered a current asset until the rental period occurs.
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Yes, unearned rent is considered a liability rather than an asset. It represents rent payments received in advance for which the service has not yet been provided, indicating an obligation to deliver future rental services. As the rental period progresses and the service is rendered, the unearned rent is recognized as revenue, reducing the liability.
balance sheet as a current liability until it's earned, when you transfer the amount earned to revenue.
yes It is an Asset, not a Liability.
asset
It is an asset
Asset.