Interested to Buy Any Domain ? << Click Here >> for more details...
what is prepaid expenses & entry
- 9 Answers
- 22745 Views
- Ernst Young, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manish kumar
prepaid exp ere these exp which exp are paid in advance
entry
prepaid exp a/c dr
to cash a/c cr
these exp are treated as assets so these exp are shown in
assets side in balance shett
| Is This Answer Correct ? | 35 Yes | 2 No |
Answer / ashish sakalley
Prepaid exp are those exp which exp are paid in advance
like Annual Maintenance Contract (AMC). If you paid AMC of
Rs.10,000 from September'09 to August'10 in this case your
entry is :-
AMC A/c Dr. 5000/-
Prepaid AMC A/c. Dr. 5000/-
to cash/bank a/c cr. 10000
| Is This Answer Correct ? | 16 Yes | 2 No |
Answer / pradeep p s r n
prepaid expenses are those which are paid in advance before using the service
prepaid expenses a/c. Dr
to cash a/c
| Is This Answer Correct ? | 11 Yes | 3 No |
Answer / rabindra mallick
Prepaid Expenses a/c Dr. (The amount paid in advance)
To Cash / Bank a/c Cr.
(Being amount paid in advance)
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sanjeeva reddy
Pre paid expenses are those which are paid in advance than
they accrue.
Entry for the same
Pre paid Expenses a/c Dr (Under Current Assets)
To Bank/ Cash a/c
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / xxxxx
Expenses which has been paid in advance is called prepaid expenses.
Prepaid expenses a/c DR
To Respective expenses a/c CR
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / shilpa
Prepaid expenses are expenses for next year but paid in
this year. entry
prepaid exp a/c .........Dr
to particular exp a/c.
balance of it transfer to current asset loan and advances
| Is This Answer Correct ? | 5 Yes | 7 No |
What we mean by MAT Credit Entitlement ???
Dear sir, mu question is that can one lunch (Tiffin) provider person mention both vat or service tax on his bill. pls. give me answer. EXPLAIN BRIEFLY.
WHAT IS SHEDULE , HOW MANY TIPE OF SHEDULE IN COMPANY & PARTNERSHIP FIRM , WHAT IS IN EACH SHEDULE HEAD CONTAIN , PLEASE GIVE ME THE ANSWER ON MY E.MAIL sonidilip87@yahoo.com
When calculating tds on bill ,TDS need to be calclated on "Base Amount" or "Base Amount"+ "Vat Amount" ? please answer with relevant provision
what is form requirement for monthly, quaterly and yearly sale return in haryana
when i worked finalisation of a firm during 2006-07under kerala vat act in 23-9-06 there is a advancesales tax RS 2170 paid by firm and inthe same month vatpayable is rS.5201 the advance tax is deducted from vatpayable that is 5201-2170=3031 is the vat payable during the month. what are the entries passed in computerised accounting during finalisation in this case please explain
what is procedure to get c form? what is procees to get vat /tin no
is there easy guide for the latest India tax & accounting information for 2010?
what is majore differance between TCS & TDS
What is the eligibility criteria of C-Form(Manufacturing goods of borewell bits, Hammers, Drilling Tools and Air compressors, etc..). If such company will purchase safety shoes, buyer can eligible to issue C-Form?
i am purchasing goods from other state and selling it in my own state, what are the taxes applicable during this transaction. i am paying cst for inter state whetehr i have pay VAT if i sell the same goods in my state.
Can we bill to party at Delhi and ship material to Hyderabad.My company is in gujarat.If Yes.Road permit issued by Hyderabad party on who's name and who will give C form.etc.
Audit 
