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why prepaid expenses given in trial balance comes in p&L A/C and balance sheet?
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why prepaid expenses given in trial balance comes in p&L A/C and balan...
When prepaid expenses comes in trial balance it comes only in asset side of balance sheet
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why prepaid expenses given in trial balance comes in p&L A/C and balan...
Prepaid expenses are those expenses which are paid in advance,and it is generally for next year and when we calculate profit from profit and loss account, it is only for current year so that we deduct prepaid expenses in profit and loss account from the concerned expenses and shows in the assets side of the balance sheet.
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why prepaid expenses given in trial balance comes in p&L A/C and balance sheet?
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why prepaid expenses given in trial balance comes in p&L A/C and balance sheet? for Class 11 2024 is part of Class 11 preparation. The Question and answers have been prepared according to the Class 11 exam syllabus. Information about why prepaid expenses given in trial balance comes in p&L A/C and balance sheet? covers all topics & solutions for Class 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for why prepaid expenses given in trial balance comes in p&L A/C and balance sheet?.
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