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prepaid expense


10 February 2011 if xyz is a pvt ltd co.,we paid for servicing
and maintenance charges on our computer or software for next one year(1.2.11-31.1.12),what is journal to be passed ,Suppose we paid Rs 10000/- ,what is the journal entry and how is it calculate? ,pls help me

10 February 2011 The journal entry will be as follows:

Repairs & Maintenance A/C Debit Rs.1667
Prepaid expenses A/C Debit Rs.8333
Bank/Cash A/C Credit Rs. 10000

07 August 2014 thanks,

Dear sir,

the electricity exp of RS 7000/-for m/o Feb & march 2014 of F.Y-2013-14,bill received on APril 2014,paid the in April 2014 that is F.Y 2014-15,what is the bill to be passed in my books of accounts

thanks in advance.






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