Accounting entries for accrued rent
1, if the leased plant, accrued plant rent
Borrow: manufacturing costs
Loan: Accounts Payable
Payment of rent
Borrow: Accounts Payable
Loan: Bank Deposits
2, if leased housing as employee housing
Borrow: Production Costs / Manufacturing
Accrued rent is calculated on the basis of the cost of the equipment or equipment, which is the same as that of the equipment or plant leased. p>Borrow: production costs/manufacturing costs/administrative expenses
Loan: Employee Compensation Payable - Non-Monetary Benefits
When paying rent:
Borrow: Employee Compensation Payable - Non-Monetary Benefits
< p>Credit: Bank DepositWhat are accounts payable?
Accounts payable refers to the amount of money payable by an enterprise because of the purchase of materials, goods or acceptance of labor supply and other business activities. Accounts payable, in general, should be recognized when the major risks and rewards associated with the ownership of the purchased materials have been transferred, or when the purchased labor has been accepted.
What are non-monetary benefits?
Nonmonetary benefits refer to the remuneration paid by an enterprise to its employees with non-monetary assets, which mainly include the provision of assets owned by the enterprise for use by employees without compensation, the provision of healthcare services for employees without compensation, and the issuance of self-produced products by the enterprise to its employees as benefits.