what is prepaid expenses & entry
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Answer / manish kumar
prepaid exp ere these exp which exp are paid in advance
entry
prepaid exp a/c dr
to cash a/c cr
these exp are treated as assets so these exp are shown in
assets side in balance shett
| Is This Answer Correct ? | 35 Yes | 2 No |
Answer / ashish sakalley
Prepaid exp are those exp which exp are paid in advance
like Annual Maintenance Contract (AMC). If you paid AMC of
Rs.10,000 from September'09 to August'10 in this case your
entry is :-
AMC A/c Dr. 5000/-
Prepaid AMC A/c. Dr. 5000/-
to cash/bank a/c cr. 10000
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / pradeep p s r n
prepaid expenses are those which are paid in advance before using the service
prepaid expenses a/c. Dr
to cash a/c
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / rabindra mallick
Prepaid Expenses a/c Dr. (The amount paid in advance)
To Cash / Bank a/c Cr.
(Being amount paid in advance)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sanjeeva reddy
Pre paid expenses are those which are paid in advance than
they accrue.
Entry for the same
Pre paid Expenses a/c Dr (Under Current Assets)
To Bank/ Cash a/c
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / xxxxx
Expenses which has been paid in advance is called prepaid expenses.
Prepaid expenses a/c DR
To Respective expenses a/c CR
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / shilpa
Prepaid expenses are expenses for next year but paid in
this year. entry
prepaid exp a/c .........Dr
to particular exp a/c.
balance of it transfer to current asset loan and advances
| Is This Answer Correct ? | 5 Yes | 7 No |
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