Where to show the Rent for premises sublet in the final accounts
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There are the accounts named trading account and profit and loss account is prepared to prepare final accounts.
This account has two sides. One is debit also called expense side and other is credit also called income side...
Rent for premises sublet is the income for the business. Hence it will be shown on the credit side of profit and loss account...
☺☺
There are the accounts named trading account and profit and loss account is prepared to prepare final accounts.
This account has two sides. One is debit also called expense side and other is credit also called income side...
Rent for premises sublet is the income for the business. Hence it will be shown on the credit side of profit and loss account...
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