Liability of exp.

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Rakesh KUmar (Querist)
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29 June 2013 Give answer with illustration
"Proprietor used a rented building both for business purpose and as well as residence equally. The rent paid during the year for the building was Rs.1,32,000 debited to rent expenses A/c in the books of business. One month rent is still outstanding. Liability of the business for rent outstanding"

Rupesh Jain

Rupesh Jain (Expert)
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29 June 2013 part of business use building will debit to business exp a/c

if rent is 12000 per month

then rs. 6000 wil debit to rent a/c of business a/c

rent a/c 6000
to vendor a/c 6000

Rupesh Jain

Rupesh Jain (Expert)
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