JE Flashcards
1
Q
Rent Expense
A
Dr Rent Expense
CR CASH
CR Accrued rent payable (if there is a different amount of rent expense… because remember you have to take the average)
2
Q
Lease bonus for rentals (Lesee and Lesor
A
Lessee: Record full amount of bonus but can only amortize (record the expense over life of lease)
Dr. Lease Bonus
CR Cash
DR Rent Expense
Cr Lease Bonus (for the amount over that period
Lesor:
DR Cash
CR Unearned revenue
Dr Unearned Rev Cr Revenue (for amount expensed)
3
Q
Rent Kickers
A
Dr Rent Expense
CR Cash
Because it is a period expense.
4
Q
Refundable Security Deposit
A
Becomes an asset because it is refundable
Dr. Security deposit receivable
Cr Cash
