Question
Office rent paid on 20 th May 2019, for the period 1 st June 2019 to 31 st may 2020 was Rs.24000/-. When accounting for
Office rent paid on 20 th May 2019, for the period 1 st June 2019 to 31 st may 2020 was Rs.24000/-. When accounting for the above transaction in the books of accounts for the year ending 31/3/2020, the accounting heads affected and the relevant amounts would be: aRent Expense A/c Rs.20000/- (increase) Current Liability Rs.4000/- (increase) Cash & bankRs.24000/- (decrease) bRent Expense A/c Rs.20000/- (increase) Current asset Rs.4000/- (increase) cash & bank Rs.24000/- (decrease) cRent Expense A/c Rs.20000/- (increase) Investment Rs.4000/- (increase) cash & bank Rs.24000/- (decrease) dRent Expense A/c : Rs.24000/- (increase) cash & bank Rs.24000/- (decrease)
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