Interested to Buy Any Domain ? << Click Here >> for more details...
pre paid expense is a asset?where it should be posted.
- 7 Answers
- 16721 Views
- Genpact, I also Faced
- E-Mail Answers
Answer Posted / sumit malik,b.com,icwai(final)
it is posted in balance sheet in asset side under the head
miscellaneous expenditure
| Is This Answer Correct ? | 6 Yes | 15 No |
Post New Answer View All Answers
What is the master account?
Into which account do we close the revaluation account balance during the winding up of a company?
What is quality discount?????//// pls mail ur answers at my e - mail ID : kamalsodhi24@gmail.com
The following transactions relating to ABC Ltd for the month of 20x1 a) Services performed in relation to income recieved in advance total $1500 b)Supplies expense includes $400 of supplies that are still on hand at 30 June c)Interest accrued on the bank loan is 750 d)At the end of june paid rent for 3 months (June, july Aug) $6000 e)Credit sales for the month of June 2009 amounted to $50000. Past expierence shows that around 1.5% of net credit sales are written off as bad debts. XYZ ltd, previously notified ABC ltd that they have gone bankrupt, will be able to pay $1000, which was recieved at the end of the month. The provision of doubtful debt has an opening balance of $800. f) The owners of ABC Ltd wish to revise the balance of the provision of doubtful debts account to $3500. g) Depreciation of one year on the delivary van is $1500. h) On 30 June 2009, ABC Ltd sold an item of equipment for $40000 cash. The cost of equipment was $50000 and had a accumulated depreciation balance of $2000 REQUIRED: Prepare the relevant adjusting journal entries for the month of June 20x2
What are the accounting entries for branch accounts?
All Interview related Questions pertaining to General Ledger,Finance & Accounts.
What is depreciation and how many types are there. Please give details?
Tell us do you have any professional experience of this field?
In the Manufacturing IF QC reject the material. Then where to record rejected material amount.
What is mutual fund what is derivatives what is capital market what is TDS.breifly
Do you know balancing in accounting?
What is royalty reserve?
if no production is take place at the start of a process in royalty accounting what will be the accounting procedure for that.
Does the accounting system appear to facilitate one specialty from financial, auditing, or cost managerial or tax accounting over the others?
What is the fictitious assets?
