Answer / raja umar

General entry for preliminary expense is as under:

1.

Preliminary expenses (Dr) 1000
Cash/Bank (cr) 1000

When you write off

Expenses written off Dr (indirect exp) 500
Preliminary Expenses Cr. 500

Now at the end of year for full adjustments:

Profit & loss Dr. 500 (balance amount which is left)
Preliminary expenses Cr. 500

there are three entries which are to be passed to adjust the
preliminary expenses.

Answer / vijaya kumar

Journal : If you wish to written off your Preliminary
expenses
preliminary Exp A/c Dr. 1000
To Cash / Bank 1000
( Being Preliminary expenses written off rs 1000)
Ledger : you should have show the written off amount rs
1000 in debit side of P & L A/c

Balance Sheet : You Should have Asset side under the head
of Miscellaneous Expenditure - preliminary Exp. Written of
rs 1000

Otherwise if you not written off any amount during the
year, you should have only show the opening balance of
amount in assets siede

S. Vijaya Kumar M.Com

Answer / vijayram.s

dear vijaya kumar priliminary expends does not depriciate
100% on the same year, u shuld depriciate 20% p.a
the remain answer is currect

Vijay Ram. s

Answer / md

Mr.Vijay kumar
You pass the journal entry for preliminary expenses and you
write the narration for write off entry.I dont understand
that which was correct?

Answer / venkat raman

I think what Raja Umar said is an Exact Answer....

Can any one tell me about Accounting Software, which Accounting software is useful for my studies ?

1 Answers  

---

Can you name different branches of accounting?

0 Answers  

---

What Is ROC? Explian briefly?

4 Answers   JK Cement,

---

What is an interlocking accounting system?

0 Answers  

---

ESI payable in the year 2010 was Rs.11000 but not accounted for by mistake in that year.It was paid in the year 2013-14. Then what will be the journal entry?

3 Answers  

---

---

what is bpo what is kpo

1 Answers  

---

List out the stages of double entry system?

0 Answers  

---

What does the word credit mean in terms of accounting?

0 Answers  

---

Difference between Horizontal & Vertical Balance sheet

3 Answers   Chartered Accountant,

---

Bank charges rs.100 debit/credit only in brs, where u can Posted entry,add or less in as per cash book/passbook

2 Answers   FIC,

---

The number of production or similar units expected to be obtained from the use of an asset by an enterprise is called as _________ (a) Unit life (b) Useful life (c) Production life (d) Expected life

1 Answers  

---

What is the difference between Balance Sheet and Fund Flow?

2 Answers  

---