expense paid but the benefit not been received so far like
deferred exp so can we consider it as a prepaid exp.
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Answer Posted / ravi
differed revenue expenditure means the expenditure which
you spent know the benefit will be received in future years
eg-advertisement expenses spent now will receive benefit
in future years
where as prepaid expenses will be posted in assets side of
balance sheet as it was paid in advance
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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
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