Question

What will be the journal entry for paid rent of building by step half of the building is used for by the proprietor for residential use 5000 with narration?

Answer 1

Rent A/C    Dr   Rs. 2500

  To Cash A/C    Rs.2500

(Being Rent paid for the office premises)

Note: Rent paid for the office premises is Rs.2500. Rent paid for residential use of the propreitor should be ignored.

Answer 2

Rent a/c        dr.    2500 To cash a/c                     2500 (Being half rent paid)