Journal Entry for perquisites

[Balaji Chettiar]

What would be the journal entry for rent free accommodation provided to employee in the books of employer?

Thanks.

AI Summary

Rent-Free Accommodation for Employees Considered a Perquisite; No Journal Entry Needed in Employer's Books. A user inquired about the appropriate journal entry for rent-free accommodation provided to an employee in the employer's books. A respondent clarified that such accommodation should be considered a perquisite and does not require a journal entry in the employer's accounting records. The original inquirer thanked the respondent for the clarification.