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Sundry Expenses Definition Journal Entry Sundry vs General Expense
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In this video on Sundry Expense, here we discuss its example and how it is recorded in the journal. We also discuss the key differences between sundry and general expenses. • 𝐖𝐡𝐚𝐭 𝐚𝐫𝐞 𝐒𝐮𝐧𝐝𝐫𝐲 𝐄𝐱𝐩𝐞𝐧𝐬𝐞𝐬? • ---------------------------------------------------- • Sundry costs are those expenditures that are incurred in the periodic course of company but are of of a random nature and consist of a small amount of expenditures compared to the total expenditures of the company, comparatively small and insignificant • 𝐃𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐜𝐞 𝐁𝐞𝐭𝐰𝐞𝐞𝐧 𝐒𝐮𝐧𝐝𝐫𝐲 𝐄𝐱𝐩𝐞𝐧𝐬𝐞 𝐚𝐧𝐝 𝐆𝐞𝐧𝐞𝐫𝐚𝐥 𝐄𝐱𝐩𝐞𝐧𝐬𝐞 • ------------------------------------------------------------------------------------------------------- • #1 - Sundry Expense relates to any company expenses that are randomly categorized under any periodic company expenses and small amounts. Whereas, General Expense is mainly periodic nature of business expense and an amount greater than the sundry cost. • #2 - Sundry Expense is irregular in nature. Whereas, General expense is regular in nature. • #3 - Sundry Expense includes small amount. Whereas, General Expense is good in quantity. • 𝐉𝐨𝐮𝐫𝐧𝐚𝐥 𝐄𝐧𝐭𝐫𝐲 𝐭𝐨 𝐑𝐞𝐜𝐨𝐫𝐝 𝐒𝐮𝐧𝐝𝐫𝐲 𝐄𝐱𝐩𝐞𝐧𝐬𝐞 • -------------------------------------------------------------------------- • • Date Particulars Debit Credit • 05.04.18 Sundry Expense 1000 • To Cash/Bank Account 1000 • (Journal entry on payment of sundry expense by cash/bank account) • • Date Particulars Debit Credit • 05.04.18 P L Account 1000 • To Sundry Expense 1000 • (Journal entry on transfer of balance in sundry expense account to income statement) • To know more about the 𝐒𝐮𝐧𝐝𝐫𝐲 𝐄𝐱𝐩𝐞𝐧𝐬𝐞, you can go to this 𝐥𝐢𝐧𝐤 𝐡𝐞𝐫𝐞:- https://www.wallstreetmojo.com/sundry... • Subscribe to our channel to get new updated videos. Click the button above to subscribe or click on the link below to subscribe - / @wallstreetmojo
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