what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer / deepika
prepaid expense a/c dr
to cash/bank a/c
(being prepaid exp.paid in cash or by cheque)
and it will come in balance sheet under haed current assets
in assets side
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ihtisham
if you purchased a machinery for 100,000 on account the entry should be recorded which is below.
machinery a/c 100,000 (Dr)
creditor a/c 100,000 (Cr)
so after a week you want to pay it in advance before its due date the will pass
prepaid expenses (Dr) 100,000
cash /bank a/c (Cr) 100,000
this balance will appear on the asset side of statement of financial position ( balance sheet)
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / amit tiwari
Prepaid Expenses A/c. Debit. . . To Respective Expenses A/c . (Being respective expenses paid in advance) . Prepaid Expenses comes under asset side of the balance sheet
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Answer / rammurthy
Expenses a/c Dr
To Prepaid expenses Cr
It will come to Asset side in Balance sheet
| Is This Answer Correct ? | 5 Yes | 6 No |
Answer / rakesh
leave..all..answers...the..rightone..is..here
when..you..are..setting..a..prepaid..account..
.....Rent....a/c..Dr
to...Prepaid..rent
when..you..are..paying..the..rent
.....prepaid..rent..a/c..dr
to...cash/bank..alc
Rakesh
| Is This Answer Correct ? | 3 Yes | 4 No |
Answer / kavitha
Prepaid Expense A/c Dr.
To Bank/ cash A/c
Prepaid exps. will come under asset side of balance sheet &
will be deducted from the expense for which pymt has been
made in advance & net amt will be shown in P&L account.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / yogish kamath p
There are two entries fro Prepaid Expenses...
1.
(Particuler)Expenses A/c Dr.
To cash/bank/vendor a/c
2.
Prepaid Expenses A/c Dr.
To (Particuler) Expenses A/c
It will effect in Asset side in Balance Sheet Account.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / khaled yafai
prepaid expeses comes in the balance sheet,it comes on
assets side
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / naveen
Prepaid expenses a/c DR XXXXXXX
To cash a/c XXXXXXX
(Being expenses
paid in advance)
It comes under 3rd item i.e. current assets of assets side
of balance sheet.
| Is This Answer Correct ? | 0 Yes | 1 No |
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