Accounting cycles

General Accounting Principles

Title

45:30

8 of 24 completed

5 of 15 completed

38 of 100 completed

8 of 20 completed

Indian Economy - Understanding the basics of Indian economic system

Rent paid to landlord should be credited to

Landlords account

Rent account

Cash account

Expense account

Rent being expense (nominal A/c) will be debited because Debit all expenses.

Cash being Asset (real A/c) will be credited because credit what goes out.

Landlord a/c will not be used as expenses and incomes are never credited/debited to personal A/c