What do you mean by deffered expenses?
Answer / pratibha
deffered expenses are those which have been accumulated and
are not paid yet. for example if we do not pay the rent of
the building for 5 months , so it has been deffered means
accumulated!
| Is This Answer Correct ? | 7 Yes | 6 No |
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Derivative
I have an invoice here amounting to $1893.60 (purchases), a credit note of $61.00. I have paid the vendor $1,832.40. How should I record my entry? I am aware that the credit note entry is using journal and the payment is using payment voucher. But I am not sure how to post the entry. Please help. Many thanks.
under the modified cash basis of accounting, most revenues and expenses are recognized on the cash basis. Which one of the following items is an EXCEPTION to this accounting practice? a.Advertising b.Professional Fees. c.Supplies d.Rent
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entry for outstanding expenses
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