ohh ddear :( trial balance

NAJC Registered Posts: 44 ? ? ?
just checking really.
admin exps and bad debt - debit
computer consomubles - debit
insurance - credit
leasing costs - credit

reply pleaseee. :D
thankyouu x


  • Bluewednesday
    Bluewednesday Registered Posts: 1,624
    Are you saying that insurance and leasing costs are income?

    If not they should be debits.
  • Lilyflower
    Lilyflower Registered Posts: 54 ? ? ?
    For sure Insurance is an expense of the business so this will be a Dr, as for the leasing costs, the fact that it is described as a ''cost'' again suggests this will be an expense in which case another Dr.

    The only way this would be a Cr is if the business are receiving rent from a leased area. In which case this would be Cr to a ''rent received'' T account (would be considered an Income).

    Hope that helps

    Lily xxxxxxxxxxxxxxxxxxxxxxxxxxx
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