Pre-operative expences
This query is : Resolved
24 December 2012
Pre-Operative Expenses - how to Show and maintain in income tax and accounts ? and how to pass entry in tally ?
25 December 2012
Pre-operative expenses should be apportioned on your fixed assets on suitable basis. Pass following entry in tally
Asset a/c Dr. xxxx
To Pre-operative Exps. A/c xxx
Asset a/c Dr. xxxx
To Pre-operative Exps. A/c xxx
26 December 2012
Pre-operative expenses means those expenses done before the formation of the company.so it will be knows as a preliminary expenses and it will be capitalised in the books of accounts and proportionate deductible as per law.
The entry should be passed as below:-
preliminary expenses a/c- dr.(Capitalised value)
To.cash / bank a/c -cr.
after that
preli. expenses W/o-dr.(Proportion value)
To.Preliminary Expenses-cr(Capilised)
The entry should be passed as below:-
preliminary expenses a/c- dr.(Capitalised value)
To.cash / bank a/c -cr.
after that
preli. expenses W/o-dr.(Proportion value)
To.Preliminary Expenses-cr(Capilised)
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