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What else can I help you with?
Is rent a current liability on a personal balance sheet?
No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps. No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps.
Is factory rent direct cost?
Yes factory rent is direct cost because without factory there is no possibility for production of units of goods.
What type of account is the rent receivable account?
Revenue account
Is rent received an operating income for a trading co?
no
What type of account is unearned rent?
Liability account.
Where does rent received go on the trading profit and loss account?
Rent received goes under income.
Is rent a current liability on a personal balance sheet?
No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps. No, rent is an expense on the trading profit and loss and appropriation account. Rent due is a current liability on a personal balance sheet. Hope this helps.
Do you include rent in factory overhead?
no only factory rent included in foh.simple rent is an operating exp
Factory rent direct manufacturing costs?
Yes factory rent is direct manufacturing cost because without factory no production can be done so only factory rent is part of direct manufacturing cost and no other rent is included in it.
Is factory rent direct cost?
Yes factory rent is direct cost because without factory there is no possibility for production of units of goods.
Is prepaid rent considered a monetary item?
Prepaid rent is monetary item, booked to the debit of the balance sheet account as an asset and expensed to the P&L through a monthly booking by crediting the balance sheet and debiting the P&L rent account ( recognising expense). It is important to prepare a schedule showing how you expense the prepayment till you get a zero balance at the end of period covered by the prepayment, that is when you must have charged the total amount to the P&L account. It is not good accounting practice to charge the total amount of prepaid rent to P&L account in one period. Cheers Ndimuh Cosmas
What does the term rent to sell refer to?
Rent to sell is a term that is similar to rent to own. Rent to own means that you can go into the store and rent an item by the week and upon completion of the rental agreement, you own the item outright.
What type of account is the rent receivable account?
Revenue account
Rs 1000 paid as rent to landlord should be debited to which A C?
Rent account or landlords account
Is rent received an operating income for a trading co?
no
What type of account is unearned rent?
Liability account.
What should rent be classified as on a balance sheet?
Rent is not a balance sheet account, it is an expense, hence an income statement account.
