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[Debit] Amortization of Prelimenary expenses xxxx
[Credit] Preliminary expenses xxxx
preliminary expenses are amortized in equal amount intil it is fully write off.
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What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
How do you pass general entry of preliminary expenses if it paid with Rs 20000?
[Debit] Preliminary expenses 20000 [Credit] Cash account 20000
What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
What is the journal entry that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
What is the journal entry for net income?
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
What is the journal entry for legal expenses?
debit legal expensescredit cash
What is the journal entry when you receive a cash refund?
Debit cash refundCredit expenses
What is the journal entry for electricity payable?
Debit electricity expensesCredit expenses payable
Can you show the journal entry for expenses incurred on food?
debit food expenses / meals and entertainmentcredit cash / bank
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
