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prepaid rent a/c dr
to rent a/c
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How do you pass journal entry for prepaid rent?
Prepaid rent A/c Dr To, Rent A/C
What is the journal entry of prepaid rent?
1. [Debit] Prepaid Rent xxxx [Credit] Cash xxxx
What will be the journal entry for unexpired rent?
debit unexpired rentcredit prepaid rent
What is the journal entry of rent paid in advance?
Debit prepaid rent and credit cash.
What is the journal entry for prepaid rent if the business is a partnership and it is a cash basis?
[Debit] Prepaid Rent [Credit] Cash Account This entry will be same whether partnership business or other form of company.
How do you pass journal entry for prepaid rent?
Prepaid rent A/c Dr To, Rent A/C
What is the journal entry of prepaid rent?
1. [Debit] Prepaid Rent xxxx [Credit] Cash xxxx
What will be the journal entry for unexpired rent?
debit unexpired rentcredit prepaid rent
What is the journal entry of rent paid in advance?
Debit prepaid rent and credit cash.
What is the journal entry for prepaid rent if the business is a partnership and it is a cash basis?
[Debit] Prepaid Rent [Credit] Cash Account This entry will be same whether partnership business or other form of company.
What is the journal entry for rent paid in advance?
prepaid rent a/c dr. to cash a/c
What is the journal entry for rent advance paid?
prepaid rent a/c....................Dr To cash A/c
I rents a building for a showroom at a rent of 8000 per month on September 1 of 2008 they paid 40000 rent in advance which was properly charged at that time to prepaid rent. what is the entry?
Prepaid Rent ( debit ) Cash ( credit )
What is the journal entry for postdated cheques paid as rent in advance?
Debit prepaid rentCredit bank
How do you rent payment pass the journal entry?
debit rent expensecredit cash / bank
Is Rent payable is recorded in accounting year?
First let me say there is no account referred to as "Rent Payable". Rent is an operating expense for a business, you have two main accounts that deal with rent. 1 is Prepaid Rent, the other is Rent Expense. Prepaid Rent is used if the company pays their rent in advance. Prepaid Rent is an Asset. For example a company pays 6 months rent in advance, the journal entry isPrepaid Rent (debit) $$$Cash (credit) $$$Each month as the rent is "used up" an adjusting entry must be made. Since the cash has already been paid the entries move the amount needed of that month from one account to another. In this case we want to move it from the asset account Prepaid Rent to the Expense account Rent Expense the entry is;Rent Expense (debit) $$$Prepaid Rent (credit) $$$As you notice since prepaid rent is an asset account it has a debit balance, therefore to "remove" the amount of rent used we must credit that amount.If the company pays their rent monthly on a cash basis the journal entry is simple and straight forward.Rent Expense (debit) $$$Cash (credit) $$$You will not see an account called "Rent Payable" as a payable account is a liability account and expense are not classified as a liability but an operating expense.
What is journal entry for issued check for office rent for the next 5 months?
[Debit] Prepaid Rent xxxx [Credit] Bank account xxxx
