Which is not an expense account Quizlet

Índice Show

What are not expense accounts?
Which of the following account is an expense?
What are expenses quizlet?
Which of the following is not an operating expense quizlet?

Fundamentals of Financial Management, Concise Edition

10th EditionEugene F. Brigham, Joel Houston

777 solutions

Century 21 Accounting: General Journal

11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman

1,012 solutions

Essentials of Investments

9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie

689 solutions

Accounting

23rd EditionCarl S Warren, James M Reeve, Jonathan E. Duchac

2,210 solutions

Fundamentals of Financial Management, Concise Edition

10th EditionEugene F. Brigham, Joel Houston

777 solutions

Century 21 Accounting: General Journal

11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman

1,012 solutions

Intermediate Accounting

14th EditionDonald E. Kieso, Jerry J. Weygandt, Terry D. Warfield

1,471 solutions

Accounting

23rd EditionCarl S Warren, James M Reeve, Jonathan E. Duchac

2,210 solutions

Fundamentals of Financial Management, Concise Edition

10th EditionEugene F. Brigham, Joel Houston

777 solutions

Century 21 Accounting: General Journal

11th EditionClaudia Bienias Gilbertson, Debra Gentene, Mark W Lehman

1,012 solutions

Essentials of Investments

9th EditionAlan J. Marcus, Alex Kane, Zvi Bodie

689 solutions

Accounting

23rd EditionCarl S Warren, James M Reeve, Jonathan E. Duchac

2,210 solutions

Your company purchased a twelve-month insurance policy for $36,000 in January.

What's the entry to record the monthly insurance expense in March?

a. Debit Insurance Expense $3,000
Credit Accrued Liabilities $3,000

b. Debit Insurance Expense $3,000
Credit Prepaid Insurance $3,000

c. Debit Accrued Payables $3,000
Credit Insurance Expense $3,000

d. Debit Prepaid Insurance $3,000
Credit Insurance Expense $3,000

e. Debit Insurance Expense $3,000
Credit Cash $3,000

According to the Ending Inventory Report, how would you calculate the Cost of Sales?

Ending Inventory Report
Administrative Salaries $100,000
Amortization Expense $20,000
Beginning Inventory $75,000
Ending Inventory $60,000
Office Supplies Expense $25,000
Purchases $125,000
Travel and Entertainment Expense $5,000

a. $75,000 - $60,000

b. $75,000 + $125,000 - $60,000 - $20,000

c. $125,000 - $20,000

d. $75,000 + $125,000 - $60,000

e. $75,000 + $125,000 - $60,000 + $20,000

What are not expense accounts?

Capital assets or long-term assets are not recognized as expenses outright when they are acquired. Instead, their cost is spread over their useful life. For tangible long-term assets (e.g. equipment, building, machinery), the cost that is recognized as expense for a period is referred to as depreciation expense. (

Which of the following account is an expense?

Some common expense accounts are: Cost of sales, utilities expense, discount allowed, cleaning expense, depreciation expense, delivery expense, income tax expense, insurance expense, interest expense, advertising expense, promotion expense, repairs expense, maintenance expense, rent expense, salaries and wages expense, ...

What are expenses quizlet?

Expenses refer to what the business has consumed to earn revenue, not what the owner has withdrawn for personal purposes.

Which of the following is not an operating expense quizlet?

31. Which of the following is not considered an operating expense for appraisal or income tax purposes? Operating expenses include fixed expenses, variable expenses, and reserve for replacements. Mortgage payments, called debt service, are not considered an operating expense.

expense account quizlet