Rent accounting form is all about maintaining the account statement of a rented property, office space or manufacturing plant. Anything which is rented for the benefit of the company goes into the account books so that they can be differentiated to get the exact profit and investment figures. Rents are mainly of two type’s prepaid rents which are already paid in advance before owning the property and accrued rent is the rent in which the amount of the rent is not yet paid but the realization of the rented property has already occurred. These rent statements are very useful in deciding the income statement and profit of the organization.
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