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Where in Chart of Accounts do you enter Prelinimary expenses ie liability asset etc?
Wiki User
∙ 9y ago
Preliminary expense are those expense which incurred before start of operating activity so it is called other assets and shown in asset side of balance sheet.
Wiki User
∙ 9y ago
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What is accounting chart of accounts?
chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses
Where does accounts payable fall in accounting balance sheet general ledger chart of accounts?
Accounts payable is liability and fall under liability side of balance sheet.
A chart of accounts lists accounts in the following order?
assets liability owners' equity income expense account
What is the classifying process in accounting?
Classification in terms of accounting is when the company accounts are determined for the chart of accounts. This classification helps the accounting department to allocate costs, expenses, and revenue to the correct accounts within the accounting system to appropriately track them.
What are the five general ledger divisions for a chart of accounts in accounting?
Five general ledger divisions would be assets, liabilities, equity, revenues, and expenses.
To which account in the chart of accounts should Advance EIC Payments be assigned?
EIC is a payroll liability account, just like your other p/r liabilities.
What is charts of accounts?
chart of account is a chart
Where does chart accounts begin?
The Chart of Accounts is the system of accounts that make up the General Ledger. This begins with our assets starting with the most liquid (cash) and numbered usually as follows. 1000 - 1999: asset accounts 2000 - 2999: liability accounts 3000 - 3999: equity accounts 4000 - 4999: revenue accounts 5000 - 5999: cost of goods sold 6000 - 6999: expense accounts 7000 - 7999: other revenue (for example, interest income) 8000 - 8999: other expense (for example, income taxes)
What does the chart of accounts for a retail establishment include?
The chart of accounts for the retail establishment includes Cash and Sales.
Chart of accounts of a Law Firm?
http://www.google.com/search?q=law+firm+chart+of+accounts
What elements need to be considered when deciding on the numbering and layout of a Chart of Accounts?
the numbering and layout of a Chart of Accounts?
In which chart of accounts does property tax belong?
Property Tax goes in the Expense section of the Chart of Accounts
