Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / 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 |
Post New Answer View All Answers
what is balancesheet adjustment a/c. what is the use of this a/c in sap fico
Short Answer on ______Transaction
Pls Explain Accounting Standered 1,3,11,29
Entrance Exam question & Answer required
Explain why the assets of a partnership are usually revalued before the admission of a new partner or the retirement of an existing partner
what is mean by traditional accounting ?
what is the main link between the income statement and the balance sheet?
what tax will be on puchasing of sweets and is necessery to use form 38.
how can make configration related with electronic bank statment and how can i upload bank statment to system
outstanding expenses, prepaid or unexpired expenses
Who is called consignor
please send me some previous sbi clerical interview questions to my email id....
What is pre-paid amount? What is post-paid amount? Explain received in advance? Explain paid in advance?
how to calculate stt
how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
