Journal Entry
This query is : Resolved
CA Shammi Prabhakar
(Querist)
25 June 2010
Hi Friends,
What is the journal entry for Preliminary expenses when it's being incurred ??
What is the journal entry for Preliminary expenses when it's being incurred ??
25 June 2010
hai
Preliminay Exp. -----------Dr.
To Cash/Bank
thanks
k a k
Preliminay Exp. -----------Dr.
To Cash/Bank
thanks
k a k
Manmohan ACA, CS
(Expert)
25 June 2010
Preliminay Exp. -----------Dr.
To Cash/Bank
To Cash/Bank
CA Shammi Prabhakar
(Querist)
25 June 2010
It's a ques. asked in an interview,
Ihave told the same ans. to them..
but he told that ans. is wrong...
so can you please let me know if other entry is possible for preliminary expenses....
Ihave told the same ans. to them..
but he told that ans. is wrong...
so can you please let me know if other entry is possible for preliminary expenses....
CMA.Palani Arumugam
(Expert)
25 June 2010
Preliminery expenses is a pre-incorporation expenses. Hence the expenses is incurred by the director/member on behalf of the company for incorporation.
Hence, you should pass the entry as follows.
Preliminery Exp A/c. Dr
To Director's/member a/c.
Hence, you should pass the entry as follows.
Preliminery Exp A/c. Dr
To Director's/member a/c.
Message likes :
2 times
RAMESH KUMAR VERMA
(Expert)
25 June 2010
DEAR SHAMMI,
EXPERTS IS RIGHT
REGARDS,
EXPERTS IS RIGHT
REGARDS,
CA Shammi Prabhakar
(Querist)
25 June 2010
Thanks..
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