CA Foundation Exam > CA Foundation Questions > Rent due for the month of March will appear _...
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Rent due for the month of March will appear __________ in the Cash book.
- a)On the receipt side
- b)On the payment side
- c)As a contra entry
- d)No where
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Rent due for the month of March will appear __________ in the Cash boo...
Explanation:
Rent is an expense and according to the rules of accounting, expenses are recorded on the payment side of the Cash book. However, as the question mentions that the rent is due for the month of March, it means that it has not been paid yet. Hence, it will not appear anywhere in the Cash book for the month of March.
Since the rent is due and has not been paid, it cannot be recorded on the receipt side of the Cash book. Also, it cannot be recorded as a contra entry because a contra entry is a transaction that involves both cash and bank accounts, and in this case, only the rent account is involved.
Therefore, the correct answer is option 'D' which states that the rent due for the month of March will not appear anywhere in the Cash book.
Rent is an expense and according to the rules of accounting, expenses are recorded on the payment side of the Cash book. However, as the question mentions that the rent is due for the month of March, it means that it has not been paid yet. Hence, it will not appear anywhere in the Cash book for the month of March.
Since the rent is due and has not been paid, it cannot be recorded on the receipt side of the Cash book. Also, it cannot be recorded as a contra entry because a contra entry is a transaction that involves both cash and bank accounts, and in this case, only the rent account is involved.
Therefore, the correct answer is option 'D' which states that the rent due for the month of March will not appear anywhere in the Cash book.
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Rent due for the month of March will appear __________ in the Cash boo...
It's entry is rent.a/c. dr To o/s rent a/c
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Rent due for the month of March will appear __________ in the Cash book.a)On the receipt sideb)On the payment sidec)As a contra entryd)No whereCorrect answer is option 'D'. Can you explain this answer?
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