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Module 1: Equilíbrio dia ajustes no diário geral e razão

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Pré-pago e Despesas Acumuladas

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Accounting -> Topics -> Prepaid and accrued expenses

Prepaid and accrued expenses

Prepaid expenses

In this example $3000 advertising has been paid on 1 January 1999 for ten advertisements in a magazine. At the end of the accounting period, three months later, only seven advertisements have been placed.

The prepaid advertising expense is a current asset.

You will need to be able to record in both the general journal and ledger, showing the adjusting and closing entries.

General journal

Date Accounts Debit Credit
1 Jan. Prepaid advertising expense 3 000

Bank
3 000

Advertising prepaid

31 Mar. Advertising expense 2 100

Prepaid advertising expense
2 100

Adjusting entry for advertising used

31 Mar. Profit and Loss a/c 2 100

Advertising
2 100

Advertising posted to Profit and Loss a/c

In the Ledger

Prepaid advertising

1 Jan. Bank 3 000 31 Mar. Prepaid advertising 2 100

Balance 900
3 000
3 000
1 Apr. Balance 900

Advertising expense

31 Mar. Prepaid advertising 2 100 31 Mar. Profit and Loss summary a/c 2 100
Profit and Loss Account

31 Mar. Advertising expense 2 100

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