Question

which of the following is put on the debit side of the trial balance?
a. interest received
b. bill's payable
c. bank overdraft
d. rent paid​

Answer 1

Answer:

D. Rent paid is put on debit side.

Answer 2

d. Rent paid​

• In bookkeeping, the rent paid in advance is a resource, not a cost, as the sum paid addresses the settlement ahead of time for the future utilization of the investment property, for example, office space and so on Similarly, the organization needs to record the lease paid ahead of time as the prepaid lease (resource) in the diary passage.

• The prepaid rent will terminate all through the progression of time when the organization begins utilizing the investment property. Consequently, the organization needs to record lease costs for the period as the lapse cost of the prepaid lease happens.