Accountancy Query
This query is : Resolved
14 September 2021
In the trial balance prepaid expenses are having both debit and credit balance.
How I should treat it for the preparation of financial statements?
How I should treat it for the preparation of financial statements?
15 September 2021
Credit balance may be due to reversal. Net it off both balances.
15 September 2021
And if by doing net I am getting credit balance then what should I do?
15 September 2021
Debit this head and credit such expenses head.
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