Laxminarayan Guda

• Dec 28th, 2016

 

Prepaid rent a/c Debit to Rent payable a/c credit

Shilpa Borsare

• Feb 19th, 2017

 

Expense entry as on 31st Dec 2016
Rent A/c Dr
To Vendor A/c Cr
(Payable in Mar 16)
Prepaid Exp Entry
Prepaid Rent Exp A/C Dr
To Rent Exp A/C Cr
(Should be amortised in 3 months)
Entry At the time of Bank payment to Vendor in Mar 17
Vendor A/C Dr
To Bank A/c Cr

GOPALA KRISHNAN S

• Mar 27th, 2017

 

The Question is not clear hence i have given clarification in the following ways :
If the books of account closed on 31 Dec 16 and if the rent pertained to the month of same financial year, ie Jan 16 to Mar 16 and the payment will be made during Mar 17 :
Rent A/C
To Out Standing rent A/C
[ Being the expenses is pertained to Current Financial Year but it has been paid in the next financial Year]
2) At the time of Payment during Mar 17
Out Standing Rent A/C
To Party A/C
Party A/C
To Bank A/C
Next answer
If the Books of accounts closed during 31Mar17 and rent pertained to the months of Jan 17 to Mar 17 and the entry made during Dec 16
Rent A/C
To Party A/C
( At the time receiving bills during Dec 16)
Party A/C
To Bank a/c

vijay

• May 8th, 2017

 

Prepayment Journal

Krithika

• May 10th, 2017

 

Cash a/c dr.
to rent(3 months)a/c

rathinakumar

• May 12th, 2017

 

from Dec-16 to Feb-16 accrual to be posted for future payment
Rent a/c Dr.
To Rent payable a/c
While pymt:
rent payable a/c Dr
To Bank/Cash a/c

Puneet Ary

• Sep 11th, 2017

 

Rent A/C Dr.
To Rent Outstanding
Rent Outstanding A/C Dr
To Bank A/C
Rent A/c Dr
To Bank A/c

Gouda

• Dec 30th, 2017

 

Rent a/c cr
bank a/c dr