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what are miscellaneous expenses in balance sheet?

Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 kruthika asked about 4 years ago

what are miscellaneous expenses in balance sheet?

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4 Answers
Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 narahari answered almost 4 years ago

Miscellaneous expense could also be a line on the income statement that reports the amounts from many general ledger accounts whose balances are not significant. For example, the balances in Cash Short and Over, Bank Service Charges, and Donations might be combined into one amount and presented on the income statement as Miscellaneous Expense.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 veeru answered about 4 years ago

Miscellaneous Expenditures are the incidental expenses which cannot be classified as manufacturing, selling, and administrative expenses. These expenses are not revenue in nature and hence shown in the asset side of the Balance Sheet and should be written off over a period of time. Example: Preliminary Expenses, Development expenditures and expenditure on raising of shares and debentures.

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 lochan answered about 4 years ago

**MISCELLANEOUS EXPENSES IN BALANCE SHEET** Miscellaneous Expenditures are the incidental expenses which cannot be classified as manufacturing, selling, and administrative expenses. These expenses are not revenue in nature and hence shown in the asset side of the Balance Sheet and should be written off over a period of time. Example: Preliminary Expenses, Development expenditures and expenditure on raising of shares and debentures. Miscellaneous expenditure in the asset side of the balance sheet normally comprises of the following items. 1) Preliminery Expenses i.e.expenditure incurred to bring an enterprise into existence. 2) Expenditure on raising of shares and debentures including underwriting commission, brokerage etc and discount on shares and debentures. 3) Development expenditures. These expenditures are not revenue in nature and hence shown in the asset side of B/s., and should be amortised/written off over a period of time. Thanks

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Avatar 37a3bd7bc7328f0ead2c0f6f635dddf60615e676e6b4ddf964144012e529de45 AZim Hussain Sikder answered about 4 years ago

Miscellaneous Expenditures are the incidental expenses which cannot be classified as manufacturing, selling, and administrative expenses. These expenses are not revenue in nature and hence shown in the asset side of the Balance Sheet and should be written off over a period of time. Example: Preliminary Expenses, Development expenditures and expenditure on raising of shares and debentures. Profit and Loss Account debit balance : As per the business entity principle, owner is different from the business. Thus, the profit generated by the business belongs to the shareholders, and hence the business is liable to shareholders for the distribution of profits. In the same way, when loss is incurred in the business it is born by the owners. Hence, it is an asset for the business as it is a receivable from the owners.

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