What is mean by deffered revenue expenditure?
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Answer / mohammed imran the new college
Deferred revenue expenditures are those expenditures which
have been incurred in an accounting period and they do not
create any assets and there benefits spread in more than
one accounting period Ex Advertisement etc... and it is
debited to Deferred expenditure account in the non current
assets area of your chart account.
| Is This Answer Correct ? | 14 Yes | 1 No |
Answer / abdul
Defered Revenu Expenditure Is An An Expenditure its
Benefits is Extend to Succeding Year or Future.Heavy
Advertisement cost, Initial Stage Consulting Fees, New
Company Operating Time Initial Stage Techniqueal Adviser
Fees, this Cost Is Write off Portion In an Year And Year
and Amortization method is used to written down the value.
It will write off by Period, unmodern and etc.,
| Is This Answer Correct ? | 5 Yes | 4 No |
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Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
Audit 
