Hmmm…. haven't really think of it, but it's one of my assets. It lasts for at least 3 more years, so the depreciation for prepaid domain name is over that period of time. So far, there's no liabilities because I have paid Law for 4 months, and only 1 month has passed. And so, in the monthly income statement, there will be a domain name depreciation expense and a webhosting expense.
| dr | webhosting expense | $10 | ||
| cr | prepaid webhosting | 10 | ||
| dr | domain name depreciation expense | 0.50 | ||
| cr | accumulated depreciation: HazelCafe.com | 0.50 |
Ermmmmmm…… no income, so revenue is 0. Expenses is 10.50… so I am making a loss of $10.50 every month…. oh well… Wahahahaa…
Crapp…
Orhh… so the purpose of HazelCafe.com is to… allow me to practise FNA??? Duhz…