Interested to Buy Any Domain ? << Click Here >> for more details...
why Prepaid Expense is treated as an asset & what will be
its journal entry using golden rules of accounting.
- 4 Answers
- 11548 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
What is debit and credit note?
The following information is extracted from the audited books of accounts of a chain of food stores for the period ended 31st December 2015. Revenue Statement (Trading and Profit and Loss Account for the year ended 31st December 2015. BWP’000 BWP’000 Sales 460 Cost of good sold (220) Gross profit 240 Wages 50 Other expenses 30 (80) Net Profit 160 Note: The purchase figure included in the cost of goods sold of P255 000. Balance Sheet as at 31st December 2015 BWP’000 BWP’000 Fixed Assets 400 Current assets: Stock 80 Debtors (trade) 120 Bank 400 ----- [600] Current liabilities: Trade creditors 300 ------ [300] 300 Net Assets 700 ==== Financed by: Share capital 600 Revenue reserves 100 ------ 700 Shareholders Funds 700 ===== Required: (a) Calculate the following accounting ratios: (i) Current ratio (ii) Acid test ratio (iii) Stock turnover (in days) (iv) Debtors turnover (in days) (v) Creditors turnover (in days) (vi) Return on capital employed (ROCE) (vii) Gross profit percentage (viii) Net profit percentage (b). Give a brief comment on the performance of the company, based on the above ratios.
What is bad debt expense?
can any accountant forward format of daily or monthly mis format for accounts and finance dept!!
hi ,i need some suggestion,comptd my graduation in 2012,but i wasted my time for 6 month,just i want 2 escape from this question,what u did for 6 months,how can i give proper anser to them?pls suggest me
Define a company's payable cycle?
what is the minimum & maximum amount paid by company per day
What is the definition(meaning) for the Final accounts adjustment 'Uninsured goods lost fire'?
Explain me the difference between accounting and auditing?
sir , i am very confussing enrty for cash receipts in t code fbcj. do the effect on wbs element after selected wbs ?
what is the deference between depreciation explanation
Under the accrual basis of accounting, when revenues are reported in the accounting period?
a person have to buy 2kg items out of 4 differnt price tag item i.e potatoo rs. 10 kg, onion rs. 5 kg , radish rs. 1 kg, and chilli rs. 1 kg in rs 10 how can he do
HOW WE MAKE A RESERVE AND AFTER ITS USE HOW WE NIL IT PLEASE MAKE A PROPER ENTRY.
what is faviourable balance,and overdraf balance in Brs? Give me sms on this no. 9885789716
