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what is the eatery for the prepaid expenses
Eg: prepaid rent
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Answer / tapan maity
1) Prepaid Expenses A/C Dr
To Bank/Cash A/c
2) Expenses A/C Dr
To. Prepaid Expenses A/c
| Is This Answer Correct ? | 9 Yes | 2 No |
Answer / debasmita
expenses, which are paid in advance, have not yet been incurred, are called as prepaid expenses. it is considered as an asset.Here one asset(prepaid expense) is increased and another asset(cash) is decreased. So the entry is, Prepaid expense A/c Dr To Cash/Bank A/c
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / biswajit bhowmick
prepaid rent means that advance paid.
for this entry will be pass
prepaid rent a/c dr.
to rent a/c.
| Is This Answer Correct ? | 0 Yes | 1 No |
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