Advance prepaid expenses......Paid kiya for 3 months...
Carry forward kaisee hoga
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Replies (5)
Prepaid Exp Dr
To Bank AC
month on month balance remaining after amortization will be c/f
To Bank AC
month on month balance remaining after amortization will be c/f
carry forward to next year balance sheet as prepaid expenses under current assets side ...
1st Month Entry
Advance prepaid expense A/c Dr
To Bank A/c Cr
(Being expense paid in advance )
2nd Month Entry
Expense A/c Dr
To Advance prepaid Expense A/c Cr
( Being expense adjusted against advance )
3rd Month Entry
Expense A/c Dr
To Advance prepaid Expense A/c Cr
( Balance expense adjusted against advance )
Show Advance prepaid Expense A/c under Loans & Advances in Balance sheet .
its so easy and simple
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