What is prepaid expences
- 4 Answers
- 7643 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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.)
| Is This Answer Correct ? | 8 Yes | 1 No |
Answer / deepak
Costs such as rent, interest, insurance premium, etc., that
are paid in advance of actually incurring them.
| Is This Answer Correct ? | 1 Yes | 0 No |
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.
| Is This Answer Correct ? | 1 Yes | 0 No |
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.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answered but misspelled pl correct ONE OF THE MAIN EXTERNAL USERS OF ACCOUNTING INFORMATION (ANS.SREKANB)
What is Opening & Closing Entry
what difference b/w commerce and accounting?
EXPAND___________LCD
barwaha
Can you explain about the distinction of Book-Keeping and Accounting
You are required to show the effect of each of the following changes on profit and Break-Even-Volume from the information given below: Sales 50,000 units Rs. 5.00 per unit Variable cost Rs. 3.00 per unit Fixed cost Rs. 70,000 Changes: (i) Price changes by 20%. (ii) Volume decreases to 40,000 units. (iii) Variable cost increases to Rs 3.50 per unit. (iv) Fixed cost decreases by 10%.
calculate the closing stock: if opening stock- rs.2327620 , purchase -23519280, direct expenses-1335225, sale:- 24884412, direct income :-286371
what is Prime Brokerage?
let me know the minimum Accounting Heads in an accounting system
I have an S Corporation called Trend Foods Inc. I would like to make a division of that company that services computers and call that Trend Computer Service. I do not want to set up another Corporation for Trend Computer Service. Can I just make a division of Trend Foods and what paperwork do I need to fill out to make that happen? Thanks for the help, Jim
what is the journal entry for this bank reconcilation statement? BANK CHARGES DEBITED BY BANKER BUT NOT ENTERED IN CASH BOOK
Audit 
