Accountancy, asked by tawanamufaromurondiw, 8 months ago

where is the rent recorded in the statement of financial position

Answers

Answered by ankanbanerjee2005
1

Answer:

Rent that has been paid in advance is shown on the balance sheet in the current asset account Prepaid Rent.) Depending upon the use of the space, Rent Expense could appear on the income statement as part of administrative expenses or selling expenses

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