Question

journal entry
a) Rent due to landlord 500
b) withdrawn for personal use 2000​

Answer 1

rent ac dr .. 500

To outstanding rent ac/landlord ac ..500

2.drawings ac .. dr 2000

To cash ac 2000

1 rent is expense and all expense are credited according to golden rules of accounting and it's not yet paid so it become our liabilities so credit itby following amt

2.by drawings the liability of business toward owner is decrease so we debit it. our cash or asset is go out so we credit it

Answer 2

Answer:

Explanation:

RENT           A/C              DR                    500

        TO OUT STANDING RENT A/C                500

( RENT DUE TO LAND LORD )

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DRAWINGS     A/C      DR    2,000

             TO CASH A/C                    2,000

( WITH DRAW CASH FOR PERSONAL USE )