View Single Post
  #67  
Old Tuesday, January 01, 2013
DDAY DDAY is offline
Member
 
Join Date: Oct 2012
Location: Islamabad
Posts: 96
Thanks: 12
Thanked 29 Times in 21 Posts
DDAY is on a distinguished road
Post

Quote:
Originally Posted by Rohail Khan View Post
dear in my view expense account kbhi Cr nh hota..
preepaid rent ki entries is trha hngi
Dr Prepaid rent account
Cr cash
aur jaise jaise rent utilize hota jaega hum usko prepaid se nika k expense me dalte jain just like below
Dr rent expense
Cr prepaid account
aur in the end agar hum ne rent advance more than year ka pay kia hai tou wo balance sheet me Dr side show hoga. ku k prepaid amount humara asset hai..
me jaldi is pe ek example post krnga ta k sab clear hojae..
Thank you so much for pointing out my mistake..... you are right...
All expenses are debits because they reduce owner’s equity
Reply With Quote
The Following User Says Thank You to DDAY For This Useful Post:
Rohail Khan (Wednesday, January 02, 2013)