Question

What is the journal entry of he paid rent Rs. 2000 and rent outstanding Rs. 1000.​

Answer 1

Answer:

Journal entry for paid rent Rs. 1,000:

Rent A/c ……. Dr 1,000

To Cash A/c 1,000

[Being the rent paid ]

Rent A/c debit because the Rent paid, so, this is one type of expense and expense are also debit. Based on the Debit and Credit or Golden Rules.

Cash A/c is assets and assets is (Real Account). Therefore Cash A/c Credit because of Cash a/c goes out, and any types of assets go out is credit based on the Debit and Credit Rules.

Rules:

Rent - Nominal Account - Expenses - Dr

Cash - Real Account - Goes out - Cr

Golden Rules:

Personal Account:

Debit the Receiver, Credit the Giver

Real Account:

What cames in Debit and what Goes out Credit

Nominal Account:

Expenses & Loss Debit, and Income, Profit Credit

I hope this answer helps you.