Question

Entry for transaction paid landlord RS 1500 for rent. One third of premises is occupied by proprietor for his own residence

Answer 1

Answer:

Explanation:

In the books of journal entry

particulars                             amount          amount

Landlord A/C    Dr.                  1000

      To, cash A/C                                           10000

[ being rent received for

Rs. 1000 ]

landlord A/C Dr.                        500

      To, proprietor A/C                                    500

[ being rent gives for

proprietor's own residence  ]

workings;-

Total rent = 1500

then 1/3 of the rent is 1500 *  1/3

so rent from letting out portion is (1500-500) = 1000