An asset created by prepayment of an expense is___.? recorded as a credit to an unearned revenue accountrecorded as a debit to an unearned revenue accountrecorded as a credit to a prepaid expense accountrecorded as a debit to a prepaid expense account相关知识点: 试题...
A prepaid expense is an asset account that turns into an expense as the value of the asset decreases. To create a journal entry for a prepaid expense, you have to debit the prepaid expense and credit the cash account with the appropriate amount of the expense. To convert assets into expen...
A. Supplies Expense B. Prepaid Insurance C. Interest Revenue D. Dividends 相关知识点: 试题来源: 解析 B 正确答案:B 解析:答案为B项。会计期末结账时,通常要将收入、支出和股息红利等临时性账户的余额通过结账分录(closing entry)转入留存收益账户(Retained Earnings Account)。而预付保险费属于资产类,是永久...
The journal entry credits the prepaid asset account (on the balance sheet) and debits the expense account (on the income statement). The records will reflect that incurred expense for the period, which will reduce the prepaid asset by that amount. What is the Effect of Prepaid Expenses on...
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青云英语翻译 请在下面的文本框内输入文字,然后点击开始翻译按钮进行翻译,如果您看不到结果,请重新翻译!This is referred to as an expense prepaid选择语言:从 到 翻译结果1翻译结果2 翻译结果3翻译结果4翻译结果5 翻译结果1复制译文编辑译文朗读译文返回顶部 这个被称为待摊费用 翻译结果2复制译文编辑译文朗读...
Definition of Deferred Expense and Prepaid Expense Deferred expense and prepaid expense both refer to a payment that was made, but due to the matching principle, the amount will not become an expense until one or more future accounting periods. Most of these payments will be recorded as assets...
What type of account is prepaid expense? What accounts do not affect the balance sheet or income statement? In which category is dividend revenue on the income statement? What is a condensed income statement? What type of account is the allowance for bad debts account?
Prepaid rent Deposits on products Service contracts (example: cleaners) Tickets for sporting events What Is the Difference Between an Accrual and a Deferral? Accruals and Deferrals are both broken down into expenses and revenue: Accrued expensesare expenses a company needs to account for, but for ...
What type of account is prepaid expense? Define notes receivable. What type of information is contained in nominal accounts, and what type in real accounts? What is the difference between account payable and note payable? What accounts are subject to adjusting journal entries?