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    doza's Avatar
    doza Posts: 1, Reputation: 1
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    #1

    Nov 7, 2009, 05:45 AM
    Treatment of Adertising expense
    Incurred advertising expense $165 on credit from the mercury star(tax invoice no.393)
    What is the treatment? Is it goes to general journal or general ledger?
    haider78605's Avatar
    haider78605 Posts: 61, Reputation: 1
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    #2

    Nov 7, 2009, 06:26 AM
    Quote Originally Posted by doza View Post
    Incurred advertising expense $165 on credit from the mercury star(tax invoice no.393)
    What is the treatment? Is it goes to general journal or general ledger?
    First it should be entered in general jounal as follows and then it should be posted in general ledger.

    Advertising expenses Dr. 165
    Accounts Payable- Mercury Star Cr 165
    jmal kamal's Avatar
    jmal kamal Posts: 1, Reputation: 1
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    #3

    Nov 7, 2009, 07:02 AM

    How I can create an accounting worksheet
    kasfi's Avatar
    kasfi Posts: 7, Reputation: 1
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    #4

    Nov 7, 2009, 07:55 AM
    Quote Originally Posted by doza View Post
    Incurred advertising expense $165 on credit from the mercury star(tax invoice no.393)
    What is the treatment? Is it goes to general journal or general ledger?
    Definitely, first journal is prepared like
    Advertising a/c dr 165$
    Mercury 165$
    Then after making journal you have to separately put different balances under different a/c title.for example in advertising a/c ledger, which is in debit side it should be written
    TO MERCURY 165$ AND VICE-VERSA.
    But when you are preparing income statement,consider ad expense as indirect expense in
    Profit and loss a/c
    haider78605's Avatar
    haider78605 Posts: 61, Reputation: 1
    Junior Member
    		  
    #5

    Nov 7, 2009, 08:30 AM
    Quote Originally Posted by jmal kamal View Post
    how i can create an accounting worksheet
    I attach format of work sheet
    Attached Files
  1. File Type: xls worksheet format.xls (21.0 KB, 150 views)
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