General entry for Accrued Rent

by Jagjit

Q: What is the general entry for accrued rent?

The journal entry for accrued rent will be:

DR Rent expense $1,000
CR Accrued Rent $1,000

What we're doing above is showing that we owe for the rent expense. We record the expense occurring (debit) as well as the liability (accrued rent - credit).

When the rent is paid we record:

DR Accrued Rent $1,000
CR Bank $1,000

Bank (asset) is decreasing so we credit it. And we cancel out the liability with a debit to accrued rent.

For more info and examples of accrued expenses see these lessons:
Accrued Expenses - part 1
Accrued Expenses - part 2

Click here to post comments

Return to Ask a Question About This Lesson!.

Enjoying this Website?
Help Support it with a Donation


Advertise on

privacy policy

Related pages

ledger accounts templateprofit and loss statement format excelexamples of debits and creditsdouble entry bookkeeping meaningdiscount allowed in income statementcash flow statements templatebills receivable accounting entriesaccrual accounting entrynoncurrent assetsundry creditors meaningthe accounting equation examplesaccounting terminology for dummiescash flow statement format indirect methoddefinition of accounts receivable and payableexpense increase debit or creditprice markup calculatordefine sundrycredit entry to accounts receivableaptitude test accountingaccounting clerk test questions answerspurchase ledger exampleformula for calculating gpsteps in the accounting cycle in orderunderstanding accounting debits and creditsexamples of statements of cash flowsproduct costing templatestatement of partner's equityjournal entry for salary paid in advancebasic finance and accounting conceptstaking a physical count of inventoryprepaid wages journal entryhow to prepare an income statement from a trial balancehow to calculate vat formulacredited and debited meaninglifo and fifo explainedfinancial accounting for beginnersexamples of factory overheadsaccounts payable basicscashiers check examplewhat is an adjusting entrydebtors reconciliationdebit and credit transactions examplesassets and liabilities equationwhat is bills payable and receivableblank income statement and balance sheetmarkup on salespreparing cash flow statement indirect methodlifo explainedreceived cash for services performed journal entryjournal entry of prepaid expensescogs sales ratioweighted averages examplesaccruing expensesjournal entry for issuing sharessmall business cash flow spreadsheetdoubtful debtshow to do fifo perpetual inventorydefine fifoschedule of accounts receivable definitionbad debts entriesweighted average ending inventorybookkeeping problems and solutionsformula to calculate cogsdefinition of cash outflowgive journal entry for provisionbad debt allowance methoddefine deptoraccounts for beginnersdef of inventorybank reconnotes payable debit or creditdeposit slip meaningbalance sheet performasample accounting worksheetperpetual formulaexamples of debit and credit entriesgross operating profit formulaaccounting basics for students pdfjournal entry for accrued revenueproveit test answers wordtrial balance meaning6 steps in accounting cycleprinciples of accounting ebookdefine accounting equation