0
How do you reclass an expense reclassification with a negative amount?
Wiki User
∙ 11y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What the difference between expense and prepaid expense?
Expense is that amount benefit of which has already taken by company while prepaid expense is that amount paid the benefit of which not yet taken but available to be taken in future period.
Is depreciation expense under administrative expense?
Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
How does prepaid expense and accrued expense affect the profit of a business?
it will either increase or decrease profit. Prepaid expense should increase profit as the amount has been overstated.
Is bad debt a current liability or expense?
Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
Is utility expense is a credit or debit?
An increase in any expense is a debit entry, so if your were recording the amount paid for a utility expenditure, the entry would be: Dr Utility expense (representing an addition to this expense account) Cr Cash (representing an outflow (decrease) in cash)
What the difference between expense and prepaid expense?
Expense is that amount benefit of which has already taken by company while prepaid expense is that amount paid the benefit of which not yet taken but available to be taken in future period.
Are school lunches covered by child support?
School lunches are a general expense that can be paid from the amount received for child support.School lunches are a general expense that can be paid from the amount received for child support.School lunches are a general expense that can be paid from the amount received for child support.School lunches are a general expense that can be paid from the amount received for child support.
Is bad debt expense a variable cost expense?
According to The Entrepreneur's Guide to Writing Business Plans and Proposals that can be found in google books, bad debt expense is a variable expense because the amount of bad debt depends on the amount of sales.
Efficiency of a machine is?
The amount of energy used in a certain amount of time and the expense.
What is the difference between prepaid unearned account?
Prepaid is that amount of expense which is paid in advance and expense not occured while unearned account is that amount where amount for services received in advance but services not provided.
How does amortization of the principal balance affect the amount of interest expense recorded each succeeding year?
reduces the amount of interest expense each succeeding year
Is depreciation expense under administrative expense?
Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
What word means amount of money spent?
expense
How does prepaid expense and accrued expense affect the profit of a business?
it will either increase or decrease profit. Prepaid expense should increase profit as the amount has been overstated.
Is a sells commission a variable expense?
If amount of sales commission is fixed and not base on number of units sold then it is fixed expense and vice versa.
Is bad debt a current liability or expense?
Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
What is the difference between finance expense and administrative expense?
Finance expense is that amount paid for the acquisition and using debt or equity finance like interest, brokerage fee, etc Administrative expense is that amount which is used to run day to day activities of business like admin staff salaries rent insurance etc
