Preliminary expenses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2014
What is the journal entry for capitalization of preliminary expenses?
If it is Preliminary Expenses Dr
To Cash/Bank
What is the logic behind affecting cash/Bank account for the expenses which are incurred before the incorporation of the company?
What if at the time of incorporation of the company, the firm doesn't have a bank account?
If it is Preliminary Expenses Dr
To Cash/Bank
What is the logic behind affecting cash/Bank account for the expenses which are incurred before the incorporation of the company?
What if at the time of incorporation of the company, the firm doesn't have a bank account?
09 September 2014
exp is incurred and cash or bank is paid time is not relevant for this entry as money is going out
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