Office Rent
Code: 5221
👁 Views: 107
Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Office rent expense
Note: This account may be broken down into sub-ledgers as needed (e.g., customer/supplier/bank names or branches).
📐 IFRS vs US GAAP Accounting Treatment
IFRS
IFRS 16
Leases
US GAAP
ASC 842
Leases
❓ Frequently Asked Questions
Q: How is monthly office rent recorded?
A: Dr. Office Rent, Cr. Bank or Accounts Payable.