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what is the Entry for Prepaid expenses? which side it come
in balance sheet?
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Answer / shiva
prepaid expenses which come in balance sheet asset side only
| Is This Answer Correct ? | 287 Yes | 20 No |
Answer / raghav
prepaid expences are current assets of company it comes at
asset side of balance sheet
| Is This Answer Correct ? | 251 Yes | 18 No |
Answer / manas jose
prepaid expense a/c dr
to particular expense a/c cr
prepaid expense comes on the asset side of balance sheet
| Is This Answer Correct ? | 168 Yes | 28 No |
Answer / jaidev guin
Prepaid Expenses A/C Dr
To Cash / Bank A/C
Prepaid expenses is shown as an asset in the Balance Sheet
| Is This Answer Correct ? | 137 Yes | 31 No |
Answer / soundar
Prepaid expenses means the Amount paid in advance for the
expenses related to subsquent year. Example Insurance
charges for a vehicle from Feb to Jan the entry should be
passed as follows
Insurance charges ( For Feb & Mar ) DR (Expenses head )
Prepaid expenses ( Apr to Jan ) DR (Asset head )
Bank / Cash CR
In the Subsquent year the above entry should be reversed
thro' journal as below
Insurance charges ( Apr to Jan ) DR
Prepaid expenses CR
| Is This Answer Correct ? | 114 Yes | 15 No |
Answer / rajesh
Prepaid Expenses A/C Dr
To Cash / Bank A/C
prepaid expences comes under assets side
| Is This Answer Correct ? | 101 Yes | 24 No |
Answer / umesh tayal
Prepaid Expences A/c Dr.
To Cash / Bank / Vendor A/c Cr.
It will be shown at Assets Side of Balance Sheet.
| Is This Answer Correct ? | 50 Yes | 5 No |
Answer / saravanan
Prepiad Expences A/C Dr XXX
To Expences A/c CR XXX
___________________________________________________________
Dr P&L A/C CR
Total Expences XXX
(-)Prepaid Exp XXX
----- XXX
___________________________________________________________
Liability Balancesheet Asset
Prepaid Exp XXX
___________________________________________________________
| Is This Answer Correct ? | 65 Yes | 21 No |
Answer / naveen.c.d
prepaid expenses a/c Dr xxxxx
to cash a/c xxxxx
(being, expenses paid in advance)
prepaid insurence comes under asset side of balance sheet.
| Is This Answer Correct ? | 43 Yes | 4 No |
Answer / devidas deshmukh
Prepaid Expenses A/c Dr.
to Cash / Bank A/c
Prepaid Expenses shows in Balance Sheet under Current
Aseets & Loans & Advances Heads. after complation a period
of this it is revese back to Profit & Loss A/c
| Is This Answer Correct ? | 49 Yes | 13 No |
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