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Answer Posted / sajjad1
all expnses which is paid in advance or incured during the
accounting periode but the benefit against these expenses
is not received is know as prepaid expneses.
For Exaple: Prepaid insurance, prepaid rent, prepaid mobile
bill etc
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Raj & Raj Ltd purchased a machinery on 01.01.1996 for Rs.88,000.The life of the machine estimated to be 5 Yrs.It was calculated that the old machinery would fetch Rs.8000 at the end of its useful life.it was decided to replace the machinery at the end of the 5th year by setting up depreciation fund and invest the annual depreciation (along with interest earned each year) in gilt edged securities carrying interest at 5% p.a. At the end of the 5th Year the securities were sold for Rs.9000.As per the sinking fund table Rs.14,478 is to be invested every year.A new machine was purchased on 01.01.2001 for Rs.1,00,000.pass the journal entries and show the ledger accounts
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Interest earned on investments is an__________
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Dear Sir, My qus is my co. purchase a laptop from Abc.co. for rs-37200 on credit Emi basis from hdfc bank. i paid every month 6200rs as a installment. so i want to know how i make a entry in tally 9. and also want to know i creat laptop ledger under fixed assets or office expenses. plz tel me soon.or mail me .
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