what is the Entry for Prepaid expenses? which side it come
in balance sheet?
- 36 Answers
- 71032 Views
- Accenture, BNY Mellon, TATA, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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
| Is This Answer Correct ? | 0 Yes | 0 No |
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)
| Is This Answer Correct ? | 0 Yes | 0 No |
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
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rammurthy
Expenses a/c Dr
To Prepaid expenses Cr
It will come to Asset side in Balance sheet
| Is This Answer Correct ? | 5 Yes | 6 No |
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
| Is This Answer Correct ? | 3 Yes | 4 No |
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.
| Is This Answer Correct ? | 2 Yes | 3 No |
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.
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / khaled yafai
prepaid expeses comes in the balance sheet,it comes on
assets side
| Is This Answer Correct ? | 0 Yes | 1 No |
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.
| Is This Answer Correct ? | 0 Yes | 1 No |
What is Going Concern, What is Dual Entry , What is Business entity and what are the names of Stock exchanges and currency of some countries, stock market related questions, Exchange rates, Banks and other informations
hi friends this veerendra i faced a qsn from accenture that is "if we use 2 retained earng a/cs what will happened and which places it will affect? give me explain
Who is the maker of the promissory note
how to calculate stt
What is a TDS ?
Do assets have to be analysed between funds?
what is actual meaning of Tax Deduction at source
there are five participants A, B, C, D, E in 25M USD syndicated loan, and A is lead manager. the borrower is ready to pay 0.4% ($100000) participant fee. how much each participant will share participant fee?
What is Mar-gen Of Safety ?
what is the TTD junior asst exam syllubsexam held on sep 5 th plz tell me sir
Who will be called as consignor
FORFEITURE OF SHARESVS SURRENDER OF SHARES
Audit 
