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ohh ddear :( trial balance

NAJCNAJC Feels At HomeRegistered Posts: 44
just checking really.
admin exps and bad debt - debit
computer consomubles - debit
insurance - credit
leasing costs - credit


reply pleaseee. :D
thankyouu x

Comments

  • BluewednesdayBluewednesday Font Of All Knowledge Registered Posts: 1,624
    Are you saying that insurance and leasing costs are income?

    If not they should be debits.
  • LilyflowerLilyflower Feels At Home 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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