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what will be the entry if advertisement suspence a/c is on
asset side of balance sheet?
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Advertisement A/C Dr
To Advertisement suspense A/c
| Is This Answer Correct ? | 12 Yes | 11 No |
Answer / deepika
DR : ADVERTISMENT SUSPENSE
CR :ADVERTISMENT EXP
| Is This Answer Correct ? | 9 Yes | 9 No |
Answer / biswaranjan sahoo
When we incur advertisement exp. & benefit of the expenditure is likely to be expended within one financial year then normally full Advertisement Exp. A/c is booked to Exp. A/c, but if the benefit of advertisement exp.is likely to be derived in future accounting years then the proportionate value of advertisement exp. is capitalized in stead of booking the whole amt. in one accounting year.
So the advertisement exp. is capitalized by the following entry: Advertisement Suspense A/c----------Dr.
Advertisement A/c-------------------Cr.
Then the Advertisement Suspense A/c is placed in the Balance Sheet under the Factitious Assets Group.
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / dharmesh gandhi
WHEN ACTUAL TRANSACTION IS KNOWING THAT TIME ENTRY IS REVERSED BY JOURNAL PASSED I.E. ADVERTISEMENT SUSPENSEA/C CREDITED AND WHATEVER EXP. IS DONE LIKE ADV. EXP. OR ANY SUNDRY EXP. A/C DEBITED
| Is This Answer Correct ? | 1 Yes | 4 No |
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