Interested to Buy Any Domain ? << Click Here >> for more details...
What is the diffrence between General Exp. & Misc. Exp?
- 5 Answers
- 19620 Views
- Tata Steel Limited, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / hemanshu
ON THE ROUTINE OF THE ORGANISATION SOME EXP ARE COVER UNDER
THE GENERAL EXP AS A GROUP. AND MISC.EXP AS A LEDGER.
We can create many ledger like mis. exp in General & Admin.
Exp Group.
those are exp which is not coming regularly and amount is
not so much high then we can cover it in misc. exp.
| Is This Answer Correct ? | 8 Yes | 2 No |
Answer / h.r. sreepada bhagi
For presentation in the Financial Statement (Read P&L A/c
abd BS), Assets, Liabilities, Income & Expenses are grouped
under broad heads. there is no hard & fast rule about the
name of the groups, but it's guided by the generally
followed accounting practice & convention.
When it comes to Expenses, the re can be groups like, 1)Cost
of Materials Consumed or Cost of Goods Sold, 2)Factory
Expenses or Production Expenses, 3)Administration Expenses,
4)Employee Related Expenses, 5)Selling & Distribution
Expenses 6)Rent, Rates & Taxes, and so on. Under each of
these groups relevant expense ledgers can be listed. Most of
the expenses can be easily identify with specific ledger
a/c, but there will be some expenses, generally of small
value, which can not be identified strictly with any of the
ledger a/c. Such expenses, which are not material (Read
Materiality Concept) can be accounted in common expense a/c,
which can be called as General Expenses A/c, Misc. Expenses
A/c, Other Expenses A/c, as the company feels relevant.
Once again, I repeat, the grouping mentioned above are only
examples & it differs from company to company.
Note - As mentioned in the above answer, TDS is not an
expense, but it is a liability towards the Government. If
there TDS on the income received, then it's an asset. In any
case TDS is not a P&L A/c item.
| Is This Answer Correct ? | 5 Yes | 4 No |
Answer / satyendra kumar sah
General exp. is an exp. we can treat in p/l a/c as indirect
exp.misc. exp. not comes in business regularly and not high
amt. if treat high amt. exp. as a misc. in this case it
should be disallowed.some organization bribe treat a
general exp.
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / sathish
General exp 1) Salary 2)Rent 3)TDS
Misc Exp 1) Stationery 2) Courier
| Is This Answer Correct ? | 10 Yes | 10 No |
Answer / rajesh mrr
General expenses
means salaries
rent misc means
postage value
| Is This Answer Correct ? | 0 Yes | 2 No |
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
how many type of vat
what is the reason for finding break even point
While finalizing the current year’s profit, the company realized that there was an error in the valuation of closing stock of the previous year. In the previous year, closing stock was valued more by Rs.50,000. As a result (a) Previous year’s profit is overstated and current year’s profit is also overstated (b) Previous year’s profit is understated and current year’s profit is overstated (c) Previous year’s profit is understated and current year’s profit is also understated (d) Previous year’s profit is overstated and current year’s profit is understated
If we withdraw cash from OD account, is it contra entry or receipt entry
Suppose salary of march paid in april then what are the entries to be made in Tally in march and april and salary payable ledger to be created under which group? and salaries to staff ledger to be created under which group? What will be the journal voucher entry and payment voucher entry?
What is trail balance
for an employee in receipt of hostel allowance for his three children,the maximum annual allowance exempt u/s 10 (14) is
What are the most important goals of accounts receivable?
what is bills payable and bills receivable?
i had taken one year gap in completing my graduation bcom should it be considered as backlogs i dont have any kt or anything else i have passed all exam in one trial
What is portfolio manager responsibilities?
Audit 
