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what is the meaning of deferred revenue ? give me some
examples
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Answer / siddeeq
benìfit of these revenue morethan one accounting year
eg:advertisment
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / kiran kumar .r
Expenditure inccured is revenue nature but the benefit of
that expenditure will be received by the company not only in
the current year in future years also.
Best and easy eg heavy advertisement made by the company
while introducing a new product.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / vijay
The expenditure which is of revenue nature but its benefit will be for a very long period is called deffered revenue expenditure.
Ex: Advertisement expenses
A part of such expenditure is shown in P&L a/c and remaining amount is shown on the assests side of B/S.
| Is This Answer Correct ? | 0 Yes | 1 No |
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Where we post the Amalgamation of goodwill
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
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