Question

in trial balance rent is debit or credit​

Answer 1

Since cash was paid out, the asset account Cash is credited and another account needs to be debited. Because the rent payment will be used up in the current period (the month of June) it is considered to be an expense, and Rent Expense is debited.

Answer 2

Answer:

Rent expense is a debit balance and not a credit balance in the trial balance.

Rent expense is an expense account, and expenses are debits because they reduce owner's equity or stockholders' equity.

Explanation:

• If rent is paid in advance, it is recorded as a prepaid expense, which is an asset account, and it will be shown as a debit in the trial balance.
• On the other hand, if rent is paid at the end of the period, it will be shown as an expense account and will be shown as a debit in the trial balance.
• If the owner of the property or equipment is the same person who is paying rent, then rent will be shown as a credit in the trial balance. This is because the owner of the property is receiving the payment, and hence it is recorded as a credit.
• When rental payments are made, they are usually recorded as a debit to the rent expense account and a credit to the cash account.

Therefore, rent is always on the debit side of the trial balance because it is an expense.

In summary, rent is always on the debit side of the trial balance because it is an expense that reduces owner's equity or stockholders' equity.

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