Question

rent outstanding accounts main answer​

Answer 1

Answer:

Outstanding expenses are those expenses which have been incurred during the current accounting period and are due to be paid, however, the payment is not made. Such an item is to be treated as a payable for the business. Examples – Outstanding salary,outstanding rent, outstanding subscription,outstanding wages, etc.

Answer 2

Answer:

rent outstanding means that the expense is accrued and has yet to be paid, this is recorded under the expenses in the income statement and also is recorded under current liabilities in the balance sheet