what is the meaning of preliminary expenses and how you
shown in balance sheet
- 50 Answers
- 230184 Views
- Banking, BPL, CA, Capital IQ, Chartered Accountant, First Midwest Bank, GE, Glass Wall Systems, Ocwen, Siemens, I also Faced
- E-Mail Answers
Answer Posted / rahul brahmankar
preliminary expenses is come under ficticious assets.Its
entry comes under assets side only & transfered to p&l a/c
which is writen off frm the profit of the
business.preliminary expenses are those expenses which
incuured before commencement of bussiness.
| Is This Answer Correct ? | 21 Yes | 8 No |
Post New Answer View All Answers
while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??
what are the payroll procedures?
Questions on Purchase Book & sales Book .Balance sheet , Purchase & Sales Return
If a bank lends money to FFMC's for working capital requirement, whether the Bank can have charge on the currencies FFMC deal/exchange, by way of hypothecation or is it just a clean loan.
(a) Rajesh Ltd. gives you the following information for the year ended 31st March, 2006: (i) Sales for the year Rs. 48, 00, 000. The Company sold goods for cash only. (ii) Cost of goods sold was 75% of sales. (iii) Closing inventory was higher than opening inventory by Rs.50,000. (iv) Trade creditors on 31.3.2006 exceed the outstanding on 31-3.2005 by Rs. 1, 00, 000. (v) Tax paid during the year amounts to Rs. 1, 50, 000. (vi) Amounts paid to Trade creditors during the year Rs. 35, 50, 000. (vii) Administrative and Selling expenses paid Rs. 3, 60, 000. (viii)One new machinery was acquired in December, 2005 for Rs. 6, 00, 000. (ix)Dividend paid during the year Rs. 1,20, 000. (x)Cash in hand and at Bank on 31.3.2006 Rs. 70, 000. (xi) Cash in hand and at Bank on 1. 4.2005 Rs. 50, 000. Prepare Cash Flow Statement for the year ended 31.3.2006 as per the prescribed Accounting Standard. (b) Define the teen "Operating Activities", "Investment Activities" and "Financing Activities" as per NA S-3 Send me this question answer in my mail Address please help me to how solve the question ( deepakgaire@gmail.com) plese plese
What is re-financing in Letter of Credit settlement
Purchase book is a ----------journal
what is the difference between financial accouning and financial management?
What is Budgeted capital ?
What is Inventory Control?
What is the Assets & Liabilities?
what is mean by account concept,and how to perpare a full accounting concept journal,ledger,trail balance,and balance sheet how it will prepare in upto fainalaztion.
Paid vehicle insurance of Rs 12000 on 1-1-2009. Pass entry at the of payment and also create prepaid insurance account
1.tell about urself? 2.wt is BRS? 3.VAT? 4.Golden principle of accounting?
does MIS reports are used in Tally n Focus software? if yes how it is used in focus software? for AR n AP
