why Prepaid Expense is treated as an asset & what will be
its journal entry using golden rules of accounting.
- 4 Answers
- 10130 Views
- I also Faced
- E-Mail Answers
Answer Posted / govinda_mahato05
Prepaid expenses is the expenses for which we paid the money in advance for that expense. But actually this expenses will not have occurred at the time of payment. However this prepaid expenses adjust at the time of happening this expenses in actual.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
How to pass accounting entry for a tender cost and under which head? and how to show joint venture in venture's accounting books?under which head?
What is the purpose of accounts like e.g. expense accounts assigned a account number 0040, principal account assigned anumber 0060.In our general ledger software such numbers are assigned.I want to know how these numbers (accounts) help in maintaing accounts of a company (like bank reconciliation).
WHERE WE CAN USE VAT 5%,14.5%
how many types of currencies are there in oracle r12
Tell me what is the equation for acid-test ratio in accounting?
what is service tax & excise? How will it be charged?
how to solve cashbook question
Particulars Dr Cr Capital 10,000 Machinery 3000 debit 2500 1400 sales - 14,500 drawings 900 purchase 9500 wages 5000 bank 1500 Opening balance 2000 rent 450 salary 200 carriage 150 total ___________ _________ 25,900 25,900 ____________ ________ how to find closing stock as on 31st dec,1998. wages outstanding 200/- sunnery expenses outstanding 100/- rent prepaid 100/-
Tell me by saying, perpetual or periodic inventory system; what do we mean?
What is control in accounting?
how to prost entry for purchases with a bill
Explain financial accounting. What are its characteristic features?
What are a debit note and credit note with an example?
What are accounting entities?
Dear sir, In tally what is list of cost centres? and what is the list of cost categories?
