Prepaid expenses
This query is : Resolved
CA Sumiit B Nagpal
(Expert)
07 August 2012
Expenses which are paid in advance and which does not accrue in you accounting year are called prepaid expenses e.g. If u pay Rs. 100 as insurance premium on 30th September being the due date, then Rs. 50 will be charged as expense for year ending 31st march and Rs. 50 will the prepaid expenses for the year
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