Deffered expenses
This query is : Open
23 November 2011
What is deffered Expenses ?? What are its implications in accounts ??
CA Ayush Agarwal
(Expert)
23 November 2011
You Paid on 01/04/2011 Rs. 10000 For Shop Insurance For Two Years.
And Debited PL Account 11-12 For Rs. 5000/- and Defered Rs. 5000/- to Be Debited in Next Year.
Entry Will Be 2011-12
Insurance Dr. 5000
Prepaid Insurance Dr 5000
To Cash
Year 2012-13
Insurance Dr. 5000
to PP Insurance Account 5000
And Debited PL Account 11-12 For Rs. 5000/- and Defered Rs. 5000/- to Be Debited in Next Year.
Entry Will Be 2011-12
Insurance Dr. 5000
Prepaid Insurance Dr 5000
To Cash
Year 2012-13
Insurance Dr. 5000
to PP Insurance Account 5000
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- MSME disclosure and disallowance
- Taxation of crypto futures in India Fy 2026- 2027
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
