Its an asset.
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.
rent is an expense while outstanding rent is a liability
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
asset liability
If rent is payable then it is liability for business but if rent is already paid then it is not liability but it is expense.
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.
Depreciation expense is neither an asset or liability. It is an expense.
rent is an expense while outstanding rent is a liability
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
asset liability
Yes
If rent is payable then it is liability for business but if rent is already paid then it is not liability but it is expense.
asset
Electricity expense is an expense account while accrued electricity payable is a liability account
purchase return is assets or liability or expense
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.