Answer to: The normal balance for rent expense is: a. debit. b. credit. By signing up, you'll get thousands of step-by-step solutions to your...
Fixed assets are recorded as a debit on the balance sheet whileaccumulated depreciation is recorded as a credit–offsetting the asset. Since accumulated depreciation is a credit, the balance sheet can show the original cost of the asset and the accumulated depreciation so far. Where is accumulated...
aDebiting the expense for the amount incurred but not yet processed does this. This credit will need to be allocated where it can be carried forward to the next accounting period as expense accrued, a current liability. 扣除费用为被招致,但不被处理的数额做此。 将需要分配这信用它可以被发扬到...
If an expense is incurred but not paid, then: a. liabilities will increase b. stockholders' equity will increase c. assets will decrease d. expenses will decrease A credit entry: a. increases asset and expense accounts, and decreases liabili...
Each month, an adjusting entry will be made to expense $10,000 (1/12 of the prepaid amount) to the income statement through a credit to prepaid insurance and a debit to insurance expense. In the 12th month, the final $10,000 will be fully expensed and the prepaid account will be zero...
a有毛的 Has the wool[translate] ayou still have lots more to work on. 您多仍然有全部工作。[translate] a直到遇见你 直到遇见你[translate] aDebiting the expense for the amount incurred but not yet processed does this. 扣除费用为被招致,但不被处理的数额做此。[translate]...
Depreciation expense is referred to as a noncash expense because the recurring, monthly depreciation entry (a debit to Depreciation Expense and a credit to Accumulated Depreciation) does not involve a cash payment. As a result, a statement of cash flows prepared under the indirect method will add...
a debit on thebalance sheetand any credit or reduction to rent will show up as a credit on the accounting statement. Since rent is such a large percentage of a company’s business expenses, it is vital for it to be calculated and recorded correctly on all of the business’ financial ...
Wages payableis the line item that records how much money is owed to workers but not yet paid. When a wage expense is recorded it is a debit to the wage expenses account, which requires a credit to the wages payable account for the same amount until the wage is paid to the worker. ...
Depreciation expense is recorded on the income statement as an expense or debit, reducing net income. Accumulated depreciation is recorded in a contra account as a credit, reducing the value of fixed assets. Depreciation Method Examples The four methods allowed bygenerally accepted accounting princ...