Ask Experts Questions for FREE Help !
Ask
    betsyc03's Avatar
    betsyc03 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Mar 2, 2010, 02:00 PM
    To post a invoice for appraisal on building, post as a prepaid or expense
    Would you post an appraisal for land and building as a prepaid or just expense?
    betsyc03's Avatar
    betsyc03 Posts: 4, Reputation: 1
    New Member
    		  
    #2

    Mar 2, 2010, 02:03 PM
    To post a invoice for appraisal on building, post as a prepaid or expense
    To post an invoice for an appraisal on a company building, would it be posted as a prepaid and expense monthly or expense one time?
    betsyc03's Avatar
    betsyc03 Posts: 4, Reputation: 1
    New Member
    		  
    #3

    Mar 2, 2010, 02:08 PM
    To post a invoice for appraisal on building, post as a prepaid or expense
    I have an invoice for an appraisal on a company office and need to know if it should be posted to a prepaid account
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #4

    Mar 2, 2010, 05:13 PM

    Neither. It's part of the cost of the land and building.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #5

    Mar 2, 2010, 05:19 PM

    And please do not keep posting the same thing over and over. This is very confusing when people do this, and it just wastes our time. (I'm thinking I've probably wasted a good half hour on chasing down double posts just this afternoon.)
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Prepaid Expense How to journalize Post dated checks [ 1 Answers ]

I issued 6 postdated checks for the rent, payable on the 1st of every month, from July to December 2009, say for example, each check is for $ 2,000.00 Please tell me what is the best way of journalizing this?

Wages expense vs accrued wages expense or prepaid expense [ 1 Answers ]

Hi I have this question which I'm stuck on Staff works a 14 day fortnight and are paid on the 15th day 15-Jun Staff Wages $1279 29-Jun Staff Wages $1279 So I drew up a timeline and figured out that staff will be paid on the 30th of jun, not 29th. Therefore, in this case, it means...

Prepaid expense and income [ 1 Answers ]

If an insurance policy for 2 years was entirely expense in one year. How do I correct this error? Ex: if policy for 2 years is 12,000 and it all expense in one year, the income would be understated by 6,000?:confused: The correct entry would be: Insurance expense 6,000 Prepaid...

View more questions Search