Answer / deepika

prepaid expense a/c dr
to cash/bank a/c
(being prepaid exp.paid in cash or by cheque)


and it will come in balance sheet under haed current assets
in assets side

Answer / ihtisham

if you purchased a machinery for 100,000 on account the entry should be recorded which is below.
machinery a/c 100,000 (Dr)
creditor a/c 100,000 (Cr)
so after a week you want to pay it in advance before its due date the will pass
prepaid expenses (Dr) 100,000
cash /bank a/c (Cr) 100,000
this balance will appear on the asset side of statement of financial position ( balance sheet)

Answer / amit tiwari

Prepaid Expenses A/c. Debit. . . To Respective Expenses A/c . (Being respective expenses paid in advance) . Prepaid Expenses comes under asset side of the balance sheet

Answer / rammurthy

Expenses a/c Dr
To Prepaid expenses Cr


It will come to Asset side in Balance sheet

Answer / rakesh

leave..all..answers...the..rightone..is..here

when..you..are..setting..a..prepaid..account..

.....Rent....a/c..Dr
to...Prepaid..rent

when..you..are..paying..the..rent

.....prepaid..rent..a/c..dr
to...cash/bank..alc

Rakesh

Answer / kavitha

Prepaid Expense A/c Dr.
To Bank/ cash A/c

Prepaid exps. will come under asset side of balance sheet &
will be deducted from the expense for which pymt has been
made in advance & net amt will be shown in P&L account.

Answer / yogish kamath p

There are two entries fro Prepaid Expenses...
1.
(Particuler)Expenses A/c Dr.
To cash/bank/vendor a/c
2.
Prepaid Expenses A/c Dr.
To (Particuler) Expenses A/c

It will effect in Asset side in Balance Sheet Account.

Answer / nelgin

the 6th answer is the right one by mr soundar

Answer / khaled yafai

prepaid expeses comes in the balance sheet,it comes on
assets side

Answer / naveen

Prepaid expenses a/c DR XXXXXXX
To cash a/c XXXXXXX
(Being expenses
paid in advance)

It comes under 3rd item i.e. current assets of assets side
of balance sheet.

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