True/False
Rick rented an office for the business for £6,000 per annum from 1 January 2021 and pays the rental quarterly in arrears. One quarter's rent was owing at the year end.
The double entry for this should be
decrease liability a/c = DEBIT OFFICE RENTAL A/C £1,500
decrease expense a/c = CREDIT ACCRUALs A/C £1,500
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q1: Skip bought a fridge for the amount
Q2: Rick took out a business loan on
Q4: Rick bought a car for use in
Q5: Skip has been informed that one of
Q6: Included in the telephone rentals account at
Q7: Skip has a year-end of 30 June
Q8: Rick bought a kettle for his own
Q9: Skip employs a member of staff who
Q10: Skip buys equipment second hand for £20,000