Answer / abdul qayyum

Prepared Expenses A/c
To Cash / Bank

while paying the exp in advacne

Respective exp A/c
To Prepared Expenses

At the time when have to actual pay.

Answer / raghavender

Prepaid Expenses A/c Dr
To Concerned Expense A/c

Answer / pramod

prepaid expenses dr.
to expenses payable

Answer / pravin kamble

Profit & Loss a/c ........Dr.
To B/S Prapaid Asset a/c....Cr.

Explanation :- when we are paying any expenses in advance,
that time it becomes asses for us. Because when we pay for
anything that time we receive something against that
payment.

Answer / sumitra.raghavan

related expense A/c dr
to cash
prepaid expense A/c dr
to related expense

Answer / madhu naidu

prepaid expenses a/c dr
To, various expenses a/c

Answer / priya

Time of accrual:
Profit and loss account dr.
To expense account

Prepaid expense
To cash
{cash being paid}

Expense account dr.
To prepaid account

Answer / muneeb chauhan

Prepaid Exp. A/c Dr
To Respective Exp. A/c

Being exp. paid as Advance

Answer / venugopal redddy

Prepaid exp(or) Income account Dr
To Income received in advance account

The two fold effect is
1. It is shown on Cr side of P "N" Loss a/c
2. Showed in Liabilities in the Balance Sheet

This is Verified with Pankaj Publications.

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