Discover a wealth of knowledge and get your questions answered on IDNLearn.com. Join our interactive community and access reliable, detailed answers from experienced professionals across a variety of topics.
Sagot :
Rent expense (and any other expense) will reduce a company's owner's equity (or stockholders' equity). Owner's equity which is on the right side of the accounting equation is expected to have a credit balance. Therefore, to reduce the credit balance, the expense accounts will require debit entries.
We value your participation in this forum. Keep exploring, asking questions, and sharing your insights with the community. Together, we can find the best solutions. Your questions deserve reliable answers. Thanks for visiting IDNLearn.com, and see you again soon for more helpful information.