Interested to Buy Any Domain ? << Click Here >> for more details...
What is accrued expenses .and what is differance between
accrued Expenses & Accrued Income?
- 3 Answers
- 9112 Views
- HCL, HP, I also Faced
- E-Mail Answers
Answer Posted / h.r. sreepada bhagi
Accrued expenses refers to the expenses incurred or related
to a particular accounting period but paid for want of
bills. For example telephone for March, 2010, bill not
received in that month (due in the next month) & hence not paid.
Accrued Income refers to the income related to a particular
accounting period but not received
Both the accrued income & expense should be taken in to the
Profit & Loss Account of the period to which it relates.
Accrued income is receivable when it becomes due & likewise
accrued expense is payable when they become due.
When the money is received or paid, it will be entered to
Cash or Bank A/c & Customer's, Creditors or the outstanding
liabilities a/c as the case may be.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
what do you consider to be the biggest challenge facing the accounting profession today?
Entry Tax is Central Income or State Income. Which Challan this tax deposited ? In Sale Tax Return which column is shown this tax
I have transferred the Plant & machines to our Branch which are located in other state. plz told me how can i show the Machin stk trfr amt in return?
what is use of cost category ? which type is useful in accounting work ? give answer with solid example because iam slow learner in accounting line.
What is fractional code and how can i get a fractional code for a particular account?
i am working in construction company.we have more then one projects.i enter attendance in payroll projectwise.i want salaries in projectwise not overall in payroll autofill. thankyou sir
Explain what is liabilities and what all does include in current liabilities?
Mention the types of accounts involved in double entry book-keeping?
what is a corporate chart of accounts and its purpose?
How is scrap value calculated?
what is a state cheque? how it differes from stale cheque?
all GL Related Interview questions with answear
What is the general classification of accounts that usually ledger account involve?
What is the marginal cost formula?
i wana give an interview as sr. excise officer what r the question will asked by interviewer ??? Please suggest me so I can clear inteview.thank u
