Interested to Buy Any Domain ? << Click Here >> for more details...
what is prepaid expenses & entry
- 9 Answers
- 22476 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 |
Let me know the clauses (A)& (B) Of section 113 of the finance (No.2)Act2009?
what is the difference between vat 100 and vat 120?
service tax
what is the vat.explain about the addolarum basis.
Sales tax office sent C form to us, but we have not received c form? what is the procedure to get c form?
my baisc salary is 8000 , DA 1000, con 1000, HRA 2500, Med 1500, Incentive 1000, LTA 2000 and other allowance
what is the procedure for Delhi WCT payment , we have a registered office at mumbai and we have a branch at delhi for that renovation we have deducted WCT ,we have ur VAT and CST no for delhi branch do we need have additional registration for this payment
If, we rentout our fixed asset. is this transaction appliocable to service tax
How will we caluclate interest on advance tax ?
Define salary for the following purposes 1.Entertainment Allowances 2.House Rent Allowance
I paid TDS through the bank a/c. but i entered wrong TAN no. instead of HYDC04387F I ENTERED HYDCO4378F ,and pl. tell me what can i do and how can i change TAN no.
5 Answers Essar International School,
what is capital account? how to manage it? what is the process?
Audit 
