received money that should be reported as revenue in a later accounting period Example of an Expense Deferral A deferral of an expense or an expense deferral involves a payment that was paid in advance of the accounting period(s) in which it will become an expense. An example is a payment...
Which of the following most likely is an example of an accrued liability? a. Accounts payable. b. Long-term debt. c. Interest payable. d. Sales tax payable. Which of the following is typically classified as a noncurrent liabili...
When a business cancels an accrued revenue during closing entries and includes it in the records once upon realizing it as an income within the...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough ...
At the end of each recording period, a company should properly estimate the dollar amount for each of its accrued expenses, and then record it as an expense account with a corresponding payable/accrued expense liability. The format of the journal entry is shown below: Accrued expenses example F...
An analyst does research about the accrued revenue. Accrued revenue is properly classified on a financial statement as which of the following() A. Assets. B. Liabilities. C. Equity. 相关知识点: 试题来源: 解析 A 应计收入(accrued revenue)是指企业已经提供了产品或服务,但现金还没到账的已确认...
What Qualifies as an Accrued Expense? Some of the most common examples of accrued expenses include: Accrued Interestrefers to the amount ofinterest expensethat has been added to a loan, bond, or other financial obligation that hasn’t been paid yet. ...
A is corrent because an accrued expense is an expense incurred but not paid. An example would be accrued payroll expense, which is incurred prior to year-end but not paid until the next period. Accruals (expenses and revenues) are transactions wherein expenses are incurred or the revenue earn...
Although this textbook is welfarist in orientation, the Saez–Stantcheva approach merits a brief discussion in the context of determining optimal tax rates, along with an example of how it can be applied. The main idea is to respecify utility in the model that Saez used to determine optimal...
Researchers therefore sometimes add Social Security wealth to the net marketable wealth of households, yielding a concept often called augmented wealth. Studies of the concentration of augmented wealth typically find that it is substantially lower than the concentration of marketable wealth. For example,...
You claimed an expense, deduction, or credit you weren’t eligible for. (For example, you tried claiming theEarned Income Credit, but you don’t qualify). You didn’t claim important tax credits or deductions and want to take advantage of the benefits. ...