Answer / rakesh

Some times some part of amount paid for expenses relates to
next financial year that amount is called prepaid expenses.
exampe.

vehicle insurance amt.to be paid 3000/- ( from 15.02.08 to
15.04.08)
Rs.3000/- to be paid for two month but it include 15 days
for next f/y. hence Rs. 750/ is prepaid expenses.

vehicle insurance Dr. 2250/-
prepaid exp. Dr. 750/-
Bank A/c Cr 3000/-
(being amt. paid for insurence charges from 15.02.08 to
31.03.08 and 15 days of april.)

Answer / deepak

Costs such as rent, interest, insurance premium, etc., that
are paid in advance of actually incurring them.

Answer / priyank

Expenses which are not of current year means expenses which
are of next year but paid in current year is called prepaid
expenses.

Answer / raman kumar

Prepaid expense are those expenses which are paid in
advance like our prepaid mobile connection's basicly its
related to next accounting year.

business sepsarate entity concepts

0 Answers  

---

what is portfolio management?

7 Answers   Cap Gemini, Capital IQ, Genpact,

---

What is the relationship between, issued share capital, share premium and paid up capital?

0 Answers  

---

Expand---------MDTR

2 Answers  

---

Expand---------SRRT

2 Answers  

---

You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6

0 Answers   IBM,

---

when assessing the credit proposal of a prospective borrower if he gets internal rating below the hurdle rate what will you suggest as a banker

0 Answers  

---

what are the basic 3 rules of accounting

6 Answers   HSBC,

---

if not found suitable for the post applied for, are you willing to be considered for a lower post yes / no ? why?

0 Answers  

---

What is compensation theorem?

0 Answers   GMC,

---

Rent paid to Land Lord account is credited to 1.Land Lords account 2.Cash account

2 Answers  

---

What is Suspense Account?

1 Answers   EDS,

---