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I thought payable is usually in the credit side . Eg: Trade payable , interest payable
This Is advance payment paid show
Its Liability on the Balance Sheet Level
Rent Payable is the expenses for company , so all expenses will dispaly as debit in Trial Balance.
debit side of trial balance
Done some adjustment in Rent than showing amount in Debit Side
If we have paid rent-payable more than it should be, or due to some adjustment in the rent payable account then rent payable account will show a debit balance. It can happen due to certain instances.
rent payable should be credit balance.
Accountant need to consider terminoloy of element of financial statement. with regard to Rent payable, rent is an expense and rent payable is a liability, Rent expense is shown of the debit side of trial balance because of its nature, and rent liabily is shown on credit side as rent payable due to its nature
Debit represents advance rent payment. It should be reclassified under the head 'Advances, deposits & prepaymets'.
It is a expense to the company. Hence recorded in TB as Debit.
because of it's classified asexpenses
هل تحتاج لمساعدة في كتابة سيرة ذاتية تحتوي على الكلمات الدلالية التي يبحث عنها أصحاب العمل؟