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Expenses are never listed in the balance sheet regardless of what they are for. Expenses appear on the income statement. At the end of the accounting period (fiscal or calendar year) expenses are close out.
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∙ 13y ago
Wiki User
∙ 9y agoYes salaries which are accrued but not yet paid are part of income statement because expense is incurred already but payment is not done in accrual based reporting expenses and incomes are shown when they occurred and not when they paid.
Wiki User
∙ 13y agoyes salaries payable go on income statement
Wiki User
∙ 11y agoAbsolutely. It is categorized as an expense on the income statement. (whether or not it was actually paid is not relevant - this would matter only for the cash flow statement)
Wiki User
∙ 10y agoYes, salaries are administration or selling expenses that's why it is shown under income statement of company.
Wiki User
∙ 14y agoYes they do.
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Where does electricity go on the balance sheet?
Electricity is not part of balance sheet rather it is an expense and it is shown in income statement of business as expense.
Where does prepaid expense go on balance sheet?
Prepaid expenses are shown in current assets under assets portion of balance sheet.
Where does stationary go on a balance sheet in business studies?
Stationery, as an accounting item, does not appear on a business Balance Sheet. The Balance Sheet is reserved for assets and liabilities. The Income Statement reflects income and expenses and because Stationery is an expense item it will appear on the Income Statement and not the Balance Sheet.
Does supplies expense go on the balance sheet?
It should affect two accounts and two statements.dr Supplies Expenses (+E, -SE)cr Supplies (-A)So, supplies expense is on your income statement but is also reflected on your balance sheet because it lessens the value of your assets in supplies.Income SheetRevenuesExpenses(supplies expense)Balance SheetAssetsCashSupplies
Does loan go under income statement as an expense?
No, it is a liability and goes on the right side of a balance sheet.
Does taxes paid go on a balance sheet?
Taxes paid is part of cash book or cash flow statement and tax expense in income statement and tax payable is balance sheet item.
Where does bank go in a trading profit and loss account or balance sheet?
Well salaries payable is liability of an organization . This is a current liabilities so they are posted in capital and liability side of a balance sheet.
Does research and development go on a income statement or a balance sheet?
R&D goes on the income statement, generally as an operating expense in the current year. You can no longer capitalize (balance sheet) R&D.
Does dividend go on an income statement?
Dividend payable become liability for business as soon as it declared to be paid and all future liabilities are part of balance sheet so dividend payable also shown under liability section of balance sheet and not part of income statement.
What information can you obtain from balance sheet?
A balance sheet, also called a "statement of financial position", reveals a company's assets, liabilities and owners' equity (net worth). The balance sheet, together with the income statement and cash flow statement are used to identify/gauge a company's financial status or position. If you are a shareholder of a company, it is important that you understand how the balance sheet is structured, how to analyze it and how to read it.
Where do fix assets go on a balance sheet?
they fall in the first column of a balance sheet
Where do fixed assets go on balance sheet?
they fall in the first column of a balance sheet
