What is the journal entry for Prepaid expenses?
Answer Posted / raju
when paid in advance, the general entry would be like that
prepaid expense a/c dr
to expense a/c
| Is This Answer Correct ? | 2 Yes | 14 No |
Post New Answer View All Answers
pls. tell me with detail (what is the rate of service tax and w.c.t. for a contractor who do civil work -make building and repairing. what is the format of generate a bill for (with material and labour both ) what entry should i pass in my accounts bokks. general and sales entry.
What is the entry for closing stock value reduction?
Explain me by saying, perpetual or periodic inventory system; what do we mean?
Mention in simple terms what is the difference between asset, equity, and liabilities?
A firm had the following Balances on 1 January 1994: (i) Provision for bad and doubtful debts Rs 2,500 (ii) Provision for discounts on debtors Rs 1,200 (iii) Provision for discounts on creditors Rs 1,000 During the year, bad debts amounted to Rs 2,000, discounts allowed were Rs 100 and discounts received were Rs 200. During 1995 bad debts amounting to Rs l,000 were written off while discounts allowed and received were Rs 2,000 and Rs 5,000 respectively. Total debtors on 31 December, 1995 were Rs 48,000 before writing off bad debts, but after allowing discounts. On 31 December, 1995, this amount was Rs 19,000 after writing off the bad debts, but before allowing discounts. Total creditors on these two dates were Rs 20,000 and Rs 25,000 respectively. It is the firm’s policy to maintain a provision of 5% against bad and doubtful debts and 2% for discount on debtors and a provisions of 3% for discount on creditors. Show the accounts relating to provisions on debtors and provisions on creditors for the year 1994 and 1995.
How calculate holding company account?
what is the entry of credit card received excess amount entry in tally and their under group names
Is there Disqualification of Auditor u/s 139 of Companies Act 2013 if the auditor is indebted towards the company to be appointed as an auditor, if amount exceeds more than Rs.1000 as against the provision related to Companies Act, 1956 ?
What is accounting transaction?
List out the stages of double entry system?
India me ,suppose that hmare pass 190000 Rs hai,to kitna tax lgega,or kis heshab se lgega,
What are the differences between contrast bookkeeping and accounting
which report give the data of GL with materials details in sap?
Tell me which accounting application you prefer most and why?
Tell me what are the key tasks for account executive?