Question

what will be the treatment of the adjustment-provide for march rent rs150.and rent in trail balance is 1,765.year ended on 31march.​

Answer 1

Answer:

Total rent expense = 1765 + 150 = 1915 and Outstanding rent = 150

Explanation:

'To provide for rent' means to make a provision for rent, which is yet to be paid. i.e., journal entry would be:

Rent expense A/c Dr. 150

To Rent payable A/c              150