Interested to Buy Any Domain ? << Click Here >> for more details...
why Prepaid Expense is treated as an asset & what will be
its journal entry using golden rules of accounting.
- 4 Answers
- 11389 Views
- I also Faced
- E-Mail Answers
Answer Posted / sanj
Prepaid expenses is the expenses paid in advance for the
next year.Currently we are accounting current profit and
losses. The services agaisnt this payment will be in next
year so payment of this should be counted in next year.
| Is This Answer Correct ? | 2 Yes | 0 No |
Post New Answer View All Answers
What are the accounting events that are frequently involved in compound entries?
pls let me know double entry of 'LEASING"
Explain me the difference between public and private accounting?
hi, this is shanthi kumar(M.Com). i would like to attend interview in genpact company.please send finance interview questions and interview details. thank u very much
If we started new project of Housing with Construction linked payment plan . How can booked our revenue or Sales .
What is invoice processing can u explain it?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
shares convert into share capital what is the journal entry? how many ledgers need to create?
I WRITE GROUP-4 EXAMINATION.I STADIYING INTERMEDET HOW MANY PARSANTEGE OF GROUP-4 EXAMINETIN
Re: CST RATE IS 1 % IF C FORM IS RECEIVABLE. IF C FORM IS NOT RECEIVED FULL AMOUNT WHAT WILL BE THE RATE OF CST
How is an accounting department structured?
the selling price of a prouduct of vintex limited inclusive of basic excise duty 16% and education cess 2% and SAH cess 1% is rs 3002. find the assessable unit of prouduct?
Tell me what is public accounting?
Where the financial accounting fails the cost accounting for is rescue but still there are some limitations deficiencies in the system?
Do you know retail banking?
