what is the Entry for Prepaid expenses? which side it come
in balance sheet?
- 36 Answers
- 71378 Views
- Accenture, BNY Mellon, TATA, Wipro, I also Faced
- E-Mail Answers
Answer Posted / anoop kb
Prepaid expenses is treated as Current Assets it shown in the
Assets side of the balance sheet under current Assets Journal
entry for prepaid expense is( as per the accounting rule assets increase should be debited)
Prepaid Expense A/c..........Dr
To Expense A/C
For Example Prepaid Insurance
Prepaid Insurance A/C........Dr
To Insurance A/C
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com
What are Home Equity Loans ?
what are the differences between Tally and Focus?
i want the steps involved in the customization for the process order. my situations is if i take the process order for x qty then stores people can issue only x qty not less or not more. how to do this. pls help me
hdn Systems Pvt. Ltd., manufactures a consumer durable which passes through two processes M and N. From the following details prepare necessary process ledger accounts bringing out clearly the cost of the product at each stage. Process ‘M’ Process ‘N’ Materials (Rs.) 30,000 3,000 Labour (Rs.) 10,000 12,000 Overheads (Rs.) 7,000 8,600 Input (units) 20,000 17,500 Normal loss 10% 4% Scrap value of loss (per unit) Re. 1.00 Rs. 2.00 There is no opening or closing W-I-P or stock at processes. Final output from the process ‘N’ was 17,000 units
How can I explain p2p process in SAP?
Hai i am mathi Preparing for bsrb clerical examinations.If anybody had that please mail me at mathiy@rediffmail.com
define accounting,scope of account , types of account ?
What Are The Characteristics Of Modern Accounting?
What are the rates of Depreciation? Like machinery items, wooden items?
Is WCT paid to be considered as overhead during costing in construction firm?
ER-1, ER-2,ER-3,ER-4,ER-5,ER-6,ER-7 plz tell me use of these excise form
while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??
what can increase gearing?
in what form is crr kept in RBI?
