Interested to Buy Any Domain ? << Click Here >> for more details...
prepaid expense ,how to treat in profit & loss a/c
- 4 Answers
- 36948 Views
- I also Faced
- E-Mail Answers
Answer Posted / i.c. maurya
the prepaid exp. directly not charged from P/L A/c At the
time of payment we should pass the entry
Dr. prepaid exp
Cr. cash/bank
(being prepaid exp. paid)
when exp. exactly Due we pass the entry
Dr. exp.
Cr prepaid exp.
(being prepaid exp. due and reversed)
this entry effect the P/L(reduce) A/c
| Is This Answer Correct ? | 17 Yes | 11 No |
Post New Answer View All Answers
How create the invoices?
Explain me some of the examples for liability accounts?
HOW CAN WE CONVERT IN CFT TO A ROUND LOG??
What methods do you use to discover sales opportunities?
Do you know in accounting, vat abbreviates what?
What is accounts receivable?
In india i did MA BE.d but now i am applying for student visa in australia in masters of professional accounting will i face any problem in interview call that why u change ur course how i ill support my answer
entry for cash received from debtors
What is BRS Adjustment entry?
in trading credit why does goods sent on consignment come?
how to get a job in stock markets for MBA-FINANCE?
What are the 4 phases accounting?
My question is.. I Received the amount from party through the bank. example. 1. Actual received from party $1000 @ 32.70 = 32,700 baht(service charge included ) 2. Bank Charge 500 baht 3. Given the credit to pary $ 1000 @ 32.50 = 32,500 baht 4. and bank charge 500 debit on party account also. .... For the First three transacion on account bank account dr 32200 bank charge dr 500 party cr 32,500 ex. fluxation cr 200 how can treate the 4th transaction. thanks in advance
In South Africa , the current rate for value added tax is ?
1.what is the entry of petrol of payment made by credit card of owner? 2.what is the entry of petrol of payment made by credit card of Company?
