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Journal entry for AMC


Sandeep Sharma (Accounts executive)     06 December 2018

Sandeep Sharma
Accounts executive 
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Received a telephone bill for yearly subscripttion from 1 sept 2018 to 31 August 2019. What will be the journal entry in books?

Bharat Bohra   06 December 2018

Bharat Bohra

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telephone charges Dr
prepaid Telephone charges Dr
to cash/bank

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Sandeep Sharma (Accounts executive)     06 December 2018

Sandeep Sharma
Accounts executive 
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Right sir and please tell me if the bill amount is 10000 then how much will be prepaid exp and will be telephone exp??

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RAJA P M ("Do the Right Thing...!!!")     07 December 2018

RAJA P M
"Do the Right Thing...!!!" 
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Divide the 10k to 365 days...
After getting the value then multiply the 1st September to 31st March (212 days) then book the value in Telephone expenses and balance will be transferred to Prepaid expenses...

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Sandeep Sharma (Accounts executive)     08 December 2018

Sandeep Sharma
Accounts executive 
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Got it sir..thanks...

avater

RAJA P M ("Do the Right Thing...!!!")     08 December 2018

RAJA P M
"Do the Right Thing...!!!" 
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You are welcome Dear...


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