What is accrued expenses .and what is differance between
accrued Expenses & Accrued Income?
- 3 Answers
- 9189 Views
- HCL, HP, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / h.r. sreepada bhagi
Accrued expenses refers to the expenses incurred or related
to a particular accounting period but paid for want of
bills. For example telephone for March, 2010, bill not
received in that month (due in the next month) & hence not paid.
Accrued Income refers to the income related to a particular
accounting period but not received
Both the accrued income & expense should be taken in to the
Profit & Loss Account of the period to which it relates.
Accrued income is receivable when it becomes due & likewise
accrued expense is payable when they become due.
When the money is received or paid, it will be entered to
Cash or Bank A/c & Customer's, Creditors or the outstanding
liabilities a/c as the case may be.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / dahlia
Acrrued Expenses and Accrued Income are an entity's
expenses and incomes or revenues that accumulate
throughout an accounting period.
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / dhamu
Accured income and expenses is mercantile systems, This
income/expenses are not yet received in that particular
financial perion,it will be received in future
| Is This Answer Correct ? | 0 Yes | 1 No |
Calculation of Gross Profit Or Gross Loss give example?
can be account payee cheque discounted from the bank of party?
what is asset in accounting
what is motive behind create depriciation reserve? how to pass journal entry in case of depriciation reseve?and how it shows in the books of co.
i have puchase a vehicle on 1st of jan 2006 for Rs 40000 and charegd depriciation @25% P.A and sold vehicle on 31st of dec,2009 RS 10000 what are the general entries related to this question.
what is credit card and what is debit card
what will be the possible question for an interview in account post as a fresher
how to pass the opening stock entry & closing Stock entry in Tally ?
12 Answers KBC, TCS,
Distinguish between Profit and Loss Account and Profit and Loss Appropriation Account.
Why we debit expenses and credit incomes ?
Tell me what is accrual accounting?
Do you know any other accounting application?
Audit 
