Create account for each rented property


Joined
May 11, 2019
Messages
1
Reaction score
0
Country
United Arab Emirates
I have school assignment of preparing Chart of accounts for L.L.C company. this company has two rented properties (Office and showroom), should I create two accounts for each properties under current assets, as "Prepaid Office Rent" and "Prepaid Show Rent"

Thank you
 

kirby

VIP Member
Joined
May 12, 2011
Messages
1,624
Reaction score
219
Country
United States
Yes, although one account could be used it will be faster to analyze the accounts if there are two.
 
Ad

Advertisements

Joined
May 25, 2019
Messages
12
Reaction score
3
Country
United States
I have school assignment of preparing Chart of accounts for L.L.C company. this company has two rented properties (Office and showroom), should I create two accounts for each properties under current assets, as "Prepaid Office Rent" and "Prepaid Show Rent"

Thank you
I would use (or create) a Rent Expense account, then two sub accounts....one for Office and One for Showroom.
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top