Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / rakesh
Some times some part of amount paid for expenses relates to
next financial year that amount is called prepaid expenses.
exampe.
vehicle insurance amt.to be paid 3000/- ( from 15.02.08 to
15.04.08)
Rs.3000/- to be paid for two month but it include 15 days
for next f/y. hence Rs. 750/ is prepaid expenses.
vehicle insurance Dr. 2250/-
prepaid exp. Dr. 750/-
Bank A/c Cr 3000/-
(being amt. paid for insurence charges from 15.02.08 to
31.03.08 and 15 days of april.)
| Is This Answer Correct ? | 8 Yes | 1 No |
Post New Answer View All Answers
which kind of expenses or Income will come under direct expenses or Income ?
Pls Give me Solution for me. Bcz i m persuing b.a iii But now i m working in accounts . So what i do In future .
why the closing stock is not considered in drawing trail balance.... Are there any other items like the above
What are the accounting conventions and Practices?
Short Answer on _____________Whole Sale Trade
How does the ration analysis help in depicting profit and loss
What is discounting accounting and why depriciation of assets are mention in dicounting accounting?
what do you meant auction? what is F & o segment?
why you want to join the banking and finance industry?
purchase car from toyota innova 50000 cheque from one firm and 449893 from other firm.... and 1350000 loan saction from kotak mahindra.....how can entry make with interest
Rs. 23.50 ( Rupes twenty three & paise fifty only) what is euro Conversion?
What are the benefits ofparticipation in a depository?
why would you like to opt nbp
what is exercise duty how to calculate that and how to update in tally
types of inventory
