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An accounting question for home office expense?
A flat is owned by Mr Yew, the business does not pay monthly rental for using the flat as home office space. However, the office space used by Yew Services may be rented out for $1,800 had it not been occupied by the business. The average monthly utilities expenses for Mr Yew's HDB flat is $480, of which half is attributable to the business.
The question is : for this situation , what should I Dr and Cr for the journal? Thank you very much! |
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