Question

Rent paid will lead to
(1 Point)

Decrease in capital and liabilities

Decrease in assets and liabilities

Decrease in assets and capital

None of the above​

Answer 1

Answer:

• C) Decrease in assets and Liabilities

A company's payment of each month's rent reduces the company's asset Cash. ... If the payment is for the current month's rent, the second account is to the temporary account Rent Expense which will be debited. The debit to Rent Expense also causes owner's equity (or stockholders' equity) to decrease.

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