Answer / durgesh

preliminary expenses are those expenses which incurred
before the commencement of bussiness whereas miscellaneous
expenses incurred during the course of bussiness which are
not adjustable under any other head.

Answer / viswanath.chaganti

Preliminary expenses are expenses incurred for
incorporation of company/business. These expenses will be
written off over a period after incorporating the
business.These expenses will be shown in Balance sheet
asset side till write off.

Miscellaneous expenses are revenue in nature. Where
expenditure not related to particular head of account or
not able to classify, will accounted to Miscellaneous
expenses. These expenses will be transferred to P & L
account in the year end. Any miscellaneous expenses debited
to P & L a/c in excess of prescribed limit by Income Tax
Act, 1956 will be added back to income by authorities and
will be taxed accordingly.

Expand A C H

1 Answers  

---

What is mean by mercantile accounting?

3 Answers  

---

what is royalty and how it is calculated?

2 Answers  

---

Questions on Purchase Book & sales Book .Balance sheet , Purchase & Sales Return

0 Answers   EDS,

---

Can anybody tell what is the link b/w reporate and inflation? How these parameters vary???

3 Answers  

---

Name subsidiary books?

1 Answers   IBM,

---

How can Goods Received Note (GRN) be cancelled?

1 Answers  

---

what does debit and credit mean in accounting and what is its underlying concept and its treatment. in the cash book dr means receipt nad credit means payment? is it correct?

4 Answers  

---

Expand---------STRP

2 Answers  

---

Expand---------MRB

4 Answers  

---

what is accrual prepayment? Define capital A/c &revenue. Define golden rules. meaning of share capital and its entries

1 Answers   e Serve,

---

What is the difference between Cash accounting System and Mercantile system of accounting

1 Answers  

---