[Debit] Rent Expense
[Credit] Rent payable
When rent paid
[Debit] Rent payable
[credit] Cash / bank
Debit rent expenseCredit rent payable
debit rent expensecredit rent payable
outstanding rent account dabit to Mr ashwin
debit Cashcredit notes payable
Debit electricity expensesCredit expenses payable
Debit rent expenseCredit rent payable
debit rent expensecredit rent payable
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
outstanding rent account dabit to Mr ashwin
The entry for unpaid rent for the current month typically involves debiting the Rent Expense account and crediting the Accounts Payable or Rent Payable account. This reflects the expense incurred for the month while recognizing the liability to pay the rent. The journal entry would look like this: Debit Rent Expense and Credit Rent Payable for the amount of unpaid rent. This ensures that both the expense and the liability are accurately recorded in the financial statements.
You would debit bank and credit rent payable (this will reduce the overall rent) or other income.
Debit accounts payableCredit notes payable
debit Cashcredit notes payable
Debit electricity expensesCredit expenses payable
There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.
debit accounts payablecredit notes payable
Debit commission expenseCredit commission payable