Journal entry for paid rent to landlord,Amit? Rs.3000
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Answered by
72
rent a/c dr. 3000
to amit a/c 3000
concept- rent is loss&
the rule is debit all the loss
credit all the profit n gain
if this ans satisfy u then mark me
to amit a/c 3000
concept- rent is loss&
the rule is debit all the loss
credit all the profit n gain
if this ans satisfy u then mark me
Answered by
17
Rent a/c…..Dr 3000
To Amit A/c 3000
(Being rent paid to landlord Amit)
Explanation:
According to the golden rule of account which states 'Debit all expenses and losses, Credit all incomes and gains', Here Rent is an indirect expense to us; therefore we will debit it as the rule says so.
Also according to the rule, all incomes should be credited; In Amit's journals the rent is an indirect income causing it to be a sort of revenue for Amit, so we credit Amit's account for Rs. 3000.
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