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(13)At the end of the accounting period, supplies used are recorded as a debit to Supplies Expense and a credit to Supplies.(T) (14)The cost of depreciation is recorded as a debit to Depreciation Expense and a credit to the Fixed Asset account.(F) (15)Accumulated Depreciation appears in...
Accounts receivable appears as a current asset on the balance sheet. Here are some examples of current assets: If your accounts receivable balance is going up, that means you're invoicing more. If the balance is going down, that means you're collecting customer payments from previous invoices....
答案解析: Answer (D) is correct . Prepaid expenses, such as supplies, prepaid rent, and prepaid insurance, are reported on the balance sheet at cost minus the expired or used portion. These are typically current assets.Answer (A) is incorrect because The cost must be reduced by the ...
What are assets? Learn the meaning of an asset, the difference between personal and business assets, and who can own assets. See a list of asset...
What are assets? Learn the meaning of an asset, the difference between personal and business assets, and who can own assets. See a list of asset...
payroll earned but not yet paid to a staff of 5 payroll taxes and sales tax not yet remitted to the government unpaid bill for supplies line of credit taken out to buy new equipment mortgage on the building Example 3: House Painting Business ...
Is a deferred tax asset a financial asset?A DTA is a financial asset that reduces future income tax expenses reported in the financial statements. Where are deferred tax assets listed on the balance sheet?They are listed on the balance sheet as “non-current assets.” ...
Trade receivables can be found on a company’sbalance sheetunder “Current Assets” and is listed along with: Cash Foreign currency Investments Prepaid Expenses Inventory (that have not yet been sold) Supplies (that have not yet been used) ...