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General Accounting Discussions: RENT OUTSTANDING

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  1.  
    • CommentAuthorali
    • CommentTimeMay 8th 2007
     
    should rent outstanding appear in balance sheet? can any one teel me for sure
    • CommentAuthorabril
    • CommentTimeMay 8th 2007
     
    yes, rent outstanding are actually rent that is not yet paid so it's a liability.
    entry would be:
    rent expense xxx
    rent payable xxx
    Thankful People: ali
    • CommentAuthoraakbar
    • CommentTimeMay 9th 2007
     
    yes it's
    Dr. Rent Exps
    Cr. OutStanding Rent a/c(Liability)
    next year when u this rent

    Dr. Outstanding Rent a/c
    Cr Bank/Cash

    Cheers!!!!!!!!
    Thankful People: ali

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