Advance for advertising

This query is : Resolved

syedabuthahir (Querist)
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13 September 2013 Advance giving for advertisement expenses if it is current asset or we can enter normal expenses please give a complete entry for this

Thanking You

M Syed Abuthahir

Accountant

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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13 September 2013 For advance payment:
Advance for advertisement a/c...dr
to Cash/ bank a/c

When exp is to be booked:
Advertisement a/c....dr
TO Advance for advertisement a/c
To Cash/ Bank a/c( for further payments made)

Transfer to P and L a/c:
Profit and loss a/c...dr
to Advertisement a/c

Ganeshbabu K

Ganeshbabu K (Expert)
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15 September 2013 If expence not booked as on 31.03.2013,,it is treated as current asset,,and if it is related to current year expence provision for expence to be provided

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