Rent receivable (given in trial balance) is an item of:

Profit & Loss account

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Balance Sheet

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Trading account

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Both balance sheet & Profit & loss account

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Solution

The correct option is B
Balance Sheet

Rent receivable (given in trial balance) is an item of Balance sheet only.

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Similar questions

What will be the effect on trial balance if Rs. 2,000 received as rent and correctly entered in the cash book is not posted to rent account ?

R s .3, 000

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