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supplies that are owned
owned = asset
= asset
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∙ 13y ago
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Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is expense a asset or liability?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
What asset and liability accounts might the AAA use to record its transactions?
Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
Is accounts payables a part of an asset or a liability?
When company purchases supplies from vendors they are require to pay them at the same time but instead of paying them out immediately they got the time to pay in future so it is the liability of the company to pay them that;s why accounts payable is liability and not the asset.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
What purchase of supplies on account is recorded in the?
The amount which is paid on account(credit) should be recorded in a liability account i believe while record the purchased supplies in the asset.
Is rent income a asset liability or owners equity?
asset liability
Is equipment an asset or liability?
Asset
Is premises a asset or liability?
asset
Is equipment liability or asset?
Asset
