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Is rent a debit or credit?
If you are paying rent it is a debit. If you are a landlord receiving rent its a credit.
What is the journal entry of rent income?
rent due to landlord
What is a deferred rent payable?
Deferred rent payable is the sum of the difference between a monthly rent payment and the monthly rent expense of an operating lease that contains escalated payments in future periods. The rent expense is the sum of all rent payments over the term of the lease divided by the number of periods contained in the lease otherwise known as straight-line amortization. This rent expense amount can/may differ from the monthly rent payments. The difference is deferred rent payable.
Can one person rent a 2 bedroom apartment?
Yes, but only if the rent amount is going to be the same or less than the payment standards for a one bedroom apartment, and then only if the Housing Authority determines you can afford it, factoring in the utility allowance for a one-bedroom apartment.
Is rent a tax write off in Wisconsin?
Personal rent...no.
