Rent paid to a partner is charged to ______.

Profit and loss adjustment A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Revaluation A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Profit and loss appropriation A/c

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Profit and loss A/c

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is D Profit and loss A/c
Rent paid by a firm is such an expenditure which is incurred irrespective of any partner. It is not directly related to the partner. As rent is an expenditure the same is debited to profit and loss account.

Suggest Corrections

Deferred Revenue Expenditure A/c To Profit & Loss A/c	Dr.
Expense A/c To Profit & Loss A/c	Dr.
Profit & Loss A/c To Provision for Expense A/c	Dr.
Profit & Loss A/c To Deferred Revenue Expenditure A/c	Dr.