Interested to Buy Any Domain ? << Click Here >> for more details...
Entry for prepaid expenses?
- 19 Answers
- 31838 Views
- Genpact, Insurance, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Prepared Expenses A/c
To Cash / Bank
while paying the exp in advacne
Respective exp A/c
To Prepared Expenses
At the time when have to actual pay.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / raghavender
Prepaid Expenses A/c Dr
To Concerned Expense A/c
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / pravin kamble
Profit & Loss a/c ........Dr.
To B/S Prapaid Asset a/c....Cr.
Explanation :- when we are paying any expenses in advance,
that time it becomes asses for us. Because when we pay for
anything that time we receive something against that
payment.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sumitra.raghavan
related expense A/c dr
to cash
prepaid expense A/c dr
to related expense
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / madhu naidu
prepaid expenses a/c dr
To, various expenses a/c
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / priya
Time of accrual:
Profit and loss account dr.
To expense account
Prepaid expense
To cash
{cash being paid}
Expense account dr.
To prepaid account
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / muneeb chauhan
Prepaid Exp. A/c Dr
To Respective Exp. A/c
Being exp. paid as Advance
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / venugopal redddy
Prepaid exp(or) Income account Dr
To Income received in advance account
The two fold effect is
1. It is shown on Cr side of P "N" Loss a/c
2. Showed in Liabilities in the Balance Sheet
This is Verified with Pankaj Publications.
| Is This Answer Correct ? | 0 Yes | 8 No |
What is PE ratio formula ?
Expand Bank O C C
Is closing stock will recorded in Trail balance?
Telly ERP9 is perfect accounting softwear in excise unit.
Where we show the Contingent Assets.
what is indirect taxes
What is EPS?
Give simple definition on Dual Entity Concept
what are the suggestions to control NPA in rural areas?
0 Answers State Bank Of India SBI,
Short answer on Amalgamation
Expand C M I
Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
Audit 
