Rent Deposit Accounting Journal Entry

A rental deposit is paid by a business to a landlord when renting premises. The deposit is refundable but is held by the landlord as security in the event that the business has caused damage to the property or has rent outstanding when the property is vacated.

Rent Deposit Accounting Journal Entry April 13th, 2017Team
Read more

Consumable Supplies Expense Recorded

Following a physical count, a business has consumable supplies on hand of 350. The accounting records before adjustment show supplies on hand of 500, and an adjusting entry is needed to record the amount of supplies used for the period.

Consumable Supplies Expense Recorded November 6th, 2016Team
Read more

Prepaid Rent Accounting

Prepaid rent is an expense which has been paid in advance.

A business has an annual office rent of 12,000 and pays the landlord 3 months in advance on the first day of each quarter. On the 1 April it pays the next quarters rent in advance of 3,000 to cover the months of April, May and June It has a prepaid expense of 3,000.

Prepaid Rent Accounting June 6th, 2017Team
Read more

Prepaid Expenses

Prepaid expenses are costs paid by a business which have not been fully utilized during one accounting period; they overlap accounting periods. Prepaid accounting arises from the matching concept, one of the fundamental accounting principles.

prepaid accounting

Prepaid Expenses November 6th, 2016Team
Read more

Prepaid Expense

A prepaid expense is an expense which has been paid in advance.

A business has an annual premises rent of 60,000 and pays the landlord quarterly in advance on the first day of each quarter. On the 1 January it pays the next quarter rent of 15,000 to cover the 3 months of January, February, and March. It has a prepaid expense of 15,000.

Prepaid Expense January 31st, 2017Team
Read more

You May Also Like


Related pages


how to calculate variable overhead spending variancedefine chequefixed manufacturing overhead variancepv factor of annuitywhat is factoring in bankingover applied overheadbasic accounting concepts and principlesretail shrink definitionsteps to accounting cycleaccounting rate of return advantages and disadvantagesfactored invoiceexamples of period costspto accountingdiscount on note receivablewhat is predetermined overhead ratestraight line method of depreciation exampleprofit margin calculation excelfob shippv excel formulachart of accounts manufacturing examplesadjusting journal entry examplesaccounting equation examplewhat are accrued salariespension accounting for dummiesbookkeeping equationprice and quantity variancetrial balance sheet template exceltotal assets turnover ratio formulasample trial balance worksheetbrs in accountsexcel npvfuture value factor formulanet realizable value calculationunearned income balance sheetdouble entry cash book formatcalculate manufacturing overheadbookkeeping formularevaluation reserve journal entrywhere is unearned revenue recordeddebtors turnover formulamarkup percentage equationmeaning of journal voucher in accountingdouble entry cash book formatposting journal entries to ledgercost accounting conceptsdebtors collection period definitionnon profit balance sheet template excelfreight expense accountingamortization schedule templatewhat is the meaning of brs in accountingtraceable fixed costdiscount allowed income statementpv of annuityreturn on owner's equitywhat are retained earninggross profit ratio formulaaccounting basics journal entriesadjusted trial balance worksheet templatetrial balance of balancesfob destination and fob shipping pointcalculating perpetuityaccounting rate of return calculationreconciliation of retained earningsaccount receivable template excel formatwhats a creditoran accrued expenseunused supplies adjusting entrymark up to marginbookkeeping definitiondisposal of fixed assets in balance sheetprovision for bad and doubtful debts entrysingle-step and multiple-step income statement