Prepaid & outstanding

This query is : Resolved 

14 September 2011 i am paying the staff accomodation rent for the period of 1/7/2011 to 30/6/2012 ie (12 months).

i have made the cheque on 14/9/2011. kindly let me know the entries for the same.

are these correct accounting entries ?

1/7/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000


1/8/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000

1/9/2011 STAFF ACCOMODATION RENT A/C 4000
TO RENT OUTSTANDING 4000

14/9/2011 OUTSTANDING RENT A/C DR. 12000
PREPAID RENT A/C DR 36000
TO BANK 48000

1/10/2011 STAFF ACCO RENT DR. 4000
TO PREPAID RENT 4000


SAME ENTRIES IN DATES 1ST NOV, DEC, JAN, FEB,MARCH, APRIL, MAY & JUNE.


I am just confused whether the rent gets outstanding on 1st day of the month or last day of the month????



14 September 2011 Last Day of month Always.
Provide it in Books always if outstanding



You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join CCI Pro
CAclubindia's WhatsApp Groups Link


Similar Resolved Queries


loading


Unanswered Queries