what is the meaning of preliminary expenses and how you
shown in balance sheet
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Answer / .vaishnavi
A prelimnary expenses is a expense which are shown on the asst side of the balancesheet . it is a expense which are called fictious asset it means imaginery notn real.for eg.advertisement of the new product,a company invest a some of amt for the add purposes and its shown on the asset side of the balacesheet . prelimnary expenses are maid only in incorporation of the business.the prelimnary expensess r shown in profit&loss account every year and balancesheet every year the value of the fictious asset will be decrese
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Answer / chandu
Is premillary expense is a current or non current assets
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Answer / anshul gupta
Preliminary Expenses are those expenses it is paid before commencement or starting business or company. Like:- Statuary Fees.
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Answer / devang
preliminary expenses are the expenses which accure at the
time of starting of the business as registration fees.
basically it is amortize as per decided time by the company
and at the time when the expense accure it will treate as
current asset.
| Is This Answer Correct ? | 26 Yes | 28 No |
Answer / sachin
Preliminary expeneses are the nature of fictitious assets.
These are the formation expenses of the company before any
operation of the busines held. These are transferred to
the profit and loss accounts and written off every year
from the profits of the business. These expenses are shown
on the assets of the balance sheet under the head
misceallenous.
| Is This Answer Correct ? | 0 Yes | 2 No |
Answer / vikrant
in simple words espenditure which accure at the time of
formation of company . it shown in assets sides under
misscellaneous head in balance sheet & cr. side of p&l
| Is This Answer Correct ? | 27 Yes | 31 No |
Answer / paddy
prelimianry expenses are the expenses which occur before
the formation of the comapnt and hence called preliminary
and are used for incorpaating a comapny and have to be
shown on the assets side under the miscellaneous
expenditure not written off..
| Is This Answer Correct ? | 5 Yes | 9 No |
Answer / czar
Expenses which incur before yhe commencement of business
and which has no asset value after the commencement, called
priliminary expense
| Is This Answer Correct ? | 46 Yes | 56 No |
Answer / deepa
Those expenses which are incurred before incorporation of
the business are called preliminary expenses. It is shown in
Asset side of balance sheet. It is current Asset.
| Is This Answer Correct ? | 22 Yes | 38 No |
Answer / crystal
Annual accounts of a limited company are filed with the
registrar of companies and may be inspected by the public.
There "published accounts" must comply with certain
requirements, some of which are statutory and some of which
are non-statutory.
Thus, Preliminary expenses are revenue for the business and
is recorded in the liabilites of the balance sheet.
| Is This Answer Correct ? | 28 Yes | 147 No |
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