what is prepaid expenses & entry

Answer Posted / manish kumar

prepaid exp ere these exp which exp are paid in advance
entry
prepaid exp a/c dr
to cash a/c cr
these exp are treated as assets so these exp are shown in
assets side in balance shett

Is This Answer Correct ?    35 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what is the full rate of cst/vat of building material ?

2046


Can Guradians (other than parents) be dependents and can we get exemption on them at Taxation part like Medical, LTA and Sec 80DD? Pls Comment.?

1551


what is a rule for issue form 38 and tham form c any purchaser can issue form 38 or there is certain rule and regulation.

2882


IF WE ARE WORKING IN PHARMA COMPANY & I SEND THE MEDICINE SAMPLE TO THE SALSMAN IN VARIOUS PLASE OF INDIA THAT TIME MADE INVOICE OR ANY OTHER CHALLN OR RECIEPT WHAT AS PER LAW ANY TAX APPLIED IN THE INVOICE & WHICH FORM WILL BE REQUIRED HOW TO GET IT, PLEASE GIVE ME DETAIL ALL INFORMATION WITH EXAMPLE & WHAT ENTEY OF THIS TRANSATION IN BOOKS OF ACCOUNT

1658


How We know we are liable for Profession Tax liability. I have an optics shop & I want PT Number so what should i do?

1880






when we want bought a new asset (for ex. car)how we calculate our income with the eye of income tax

1516


what should be the research and methodology of business taxation?

1701


Why TDS is not deducted on JSTF Contribution of Hinjewadi Industries Association?

1822


is there easy guide for the latest India tax & accounting information for 2010?

1691


Can any One Plz Help Me with TDS Charts & Filling? Plz Send Me All Details to My email Id: satish.0483@gmail.com Plz Its Asked to Me In My Interview Held In Coming 2 Or 3 Days

1656


What are the various forms used for VAT?

2825


What do you understand by transfer income?

702


WHAT IS EXECUTION OF WORKS CONTRACT ?

1690


What are allowable and dis-allowable expenditure?

744


Sir, in CEntral excise we need to pay some amt with interest ex.13815 amt for 66 days how to calcualte this?

1878