What does an amount reported as an allowance for uncollectible accounts represent? What type of account is treasury stock? What is its normal balance? Where is it reported in the financial statements? What is the relationship between the revenue and expense accounts and the owner's equity account...
The cost of goods sold is an important expense in a seller's income statement, and, in most cases, will be the largest expense. Why is it an expense? The short answer is because the companyexpendsthis amount to own (by buying or producing) this product. This article will further explai...
What type of account is a credit balance in cash over and short? What type of account is bank service charges? What type of account is prepaid expense? What type of account is the dividends account? What type of account is the allowance for bad debts account?
Checking the signature on an expense claim is an example of what type of control?A. MandatedB. DiscretionaryC. ApplicationD. Accounting 正确答案:B 分享到: 答案解析: 暂无解析 统计:共计70人答过,平均正确率37.14% 问题:进入高顿部落发帖帮助 相似题型 热门网课更多>> 论坛精华更多>> 题库APP下...
What is an expense?Expense (definition) An expense is a payment made in the form of cash or other resources such as time. Accountants categorise expenses in many ways. The basic principle of an expense is simple enough. They are resources flowing out of a business. However, because expenses...
According to Inc., an expense account is an account that details the money advanced to a salesperson, officer of the company or other employee for food, lodging, client entertainment, travel and other expenditures necessary for the employee to make a sale or perform his job. Advertisement Art...
A common nonoperating expense for a retailer is interest expense. Related Questions What is a noncash expense? What are reversing entries and why are they used? What is a contra expense account? What is a fixed expense? What is a variable expense? Is the reversal of a previous ...
Depreciation of assets If an expense is for both business and personal use, you can only deduct the portion of the expense that applies to your business. For example, if you drive a vehicle for business and personal use, you can only deduct the percentage of vehicle-related costs that apply...
What type of account is a retained earnings account? A retained earnings account is an equity account. At the end of a given reporting period, any net income that is not paid out to shareholders is added to the business's retained earnings. ...
Accounts receivable (AR):This type of current asset consists of the payments that will be collected from the company's customers within one year. Prepaid Expenses:This type of current asset is an expense that is paid for in advance but hasn't occurred yet, such as rent. ...