Prepaid rent given in the Trial Balance will be treated as a (an): A) Asset B) Liability C) Revenue

Prepaid rent means, Payment of rent Prior to its due date.
So it is an ASSET.
accounting treatment for the Prepaid Rent will be:- Prepaid Rent Account Dr.
Cash..
Cr.
here prepaid rent Debit & Credit cash for payment.
once the rent is actually due that time we have to reverse it by passing an entry ie; Rent (Expense) Dr.
Prepaid Rent Cr.
here Rent debit as it is an expense.& Credit prepaid Rent(just like Income consideration).

yes, it is an asset for the company, because the company has paid in advance for the premises that the co. will use in future.

 

Asset

A

Current Assets in Balance Shet

Prepaid Rent is an Asset

A) Asset

Asset liability fggggggghhbbb

a:)

 

prepaid rent given in the trail balance will be treated as on 

An Asset