where does rent received go, in the the balance sheet or the trading and profit and loss account?

Answer 1

Good grief, definitely not in the balance sheet. Rent received would be revenue in the profit and loss statement if that's your main source of revenue. If it's incidental to your business, it goes to Other income, but still in the profit and loss statement.

Answer 2

In the rent received account and on the balance sheet.

Answer 3

The question and most answers show a lack of understanding of the relationship between the statements. Rent received is obviously income for the p&l account, the total of which is then added to the balance sheet, increasing or decreasing the total net assets for the year.

Answer 4

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Answer 6

On the balance sheet it is an asset.

Answer 7

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Answer 8

balance sheet

Answer 9

P&L as it's revenue into your business/taxable income.