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Every time you fill up keep the receipt and write down the mileage. Add up the amount you spent and if you want to know your MPG you subtract the milage from one fill up to the other. Then divide it by the number of gallons you put in. This will give you MPG.
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If you have expenses of 2000 per month how much would you need to make a month to cover those expenses?
2000
How do you list prepayed expenses on the liability side of the balance sheet?
Pre-paid Expenses are not listed as a liability, they are an asset. If there is a liability, by definition, it has not been pre-paid. If you receive an invoice in Month 1 which is due in Month 2 for an expense related to Month 3, there would be no entry in Month 1. When the invoice is paid in Month 2, you would set-up a pre-paid expense which would then be expensed in Month 3.
What are the two classifications of family expenditures?
A family's expenses can be budgeted under two main categories, fixed and variable. Fixed expenses are those such as insurance premiums which do not change from month to month, while a variable expense would be one such as an electric bill which can vary widely from month to month.
What is matching principle of accounts?
The matching principle refers to matching related income and expense items in the same accounting period. For example, if you had a store and had a big sale event on the last day of the month, and recorded all the income for that day, you would also want to make sure you accrued all the expenses related to the event (advertising, etc.) even though some of those expenses might not be paid until the following month. Similarly, if you had paid any expenses in the month before the sale, you would want to defer those expenses and call them "prepaid expenses" until the month of the sale.
What is Principles of account?
The matching principle refers to matching related income and expense items in the same accounting period. For example, if you had a store and had a big sale event on the last day of the month, and recorded all the income for that day, you would also want to make sure you accrued all the expenses related to the event (advertising, etc.) even though some of those expenses might not be paid until the following month. Similarly, if you had paid any expenses in the month before the sale, you would want to defer those expenses and call them "prepaid expenses" until the month of the sale.
How would you figure your expenses for child support modification if you and your girlfriend share bills?
In general, expenses are not considered when determining child support (except for extraordinary expenses such as very high medical bills). Child support is based on a percentage of net income.
Are General Expenses a fixed Cost?
Some general expenses are fixed, meaning that they are the same amount every month, but many are not. When the expense depends on usage, such as electricity, it will not be fixed, but will vary from month to month. An example of a fixed general expense would be a monthly retainer or fee paid to an accountant or lawyer. If the expense is the same amount every month, it is called a fixed cost.
What is the average monthly expenses per American family?
I am a mother of 2. there are 4 in my family and my average monthly expenses is usaully around 5293.09. I have also looked to see what i would have left if i was a single mother and every month since all together i get 5852.70 i would have 559.71 left. I have a 6 year old and a 4 month old.
How can you handle variable expenses?
I have handled my various expenses by doing the following:Determine if the variable expenses are 'mandatory' expenses, such as electricity, gas or food costs, or 'discretionary' expenses, such as entertainment or recreational costs. Depending on which category the expenses fall under, will determine the priority to place on each.Work on managing my usage and shopping habits to get my variable expenses to as close as I can to a "fixed" expense amount (of course with a little give and take). I have found it to be a great help when I keep a personal log of how much I spend on these expenses each month. I then work to 'mimic' the behavior I displayed in the months I spent the least amount, and this has gained me the best result.Last, eliminate or reduce what isn't absolutely necessary, such as my entertainment or recreational expenses. In other words, I may cut down on the number of times I eat out in a month or the amount I spend on unnecessary purchases.The goal is to get your variable expenses as close as you can to fixed expenses, which will help you budget, and if need be reduce the amount you spend on these expenses each month.Variable ExpensesTelephoneOffice SuppliesMarketingMeals & EntertainmentFor hefty variable costs you would require to estimate the sums and necessitated payment dates, then effort on pertaining revenue to the categories to horizontal out the peaks and vale. For slighter expenditures, you might be able to soak up them as they approach. If so then you could relate a supposed quantity to the categories each month that would in the region of cover your expected expenditure for the year divided by 12. If you couldn't swathe it all from the group balance in a month it was outstanding you would then just relate more profits that month to the invoice from other categories with additional balances.
When are prepaid expenses are reported on the income statement as expenses?
Prepaid expenses do not go on the income statement as they are classified as assets. They are amortized over the time period being paid for.Example: If you prepaid $600 dollars for 6 months rent. Then $100 dollars would be expensed each month and the remaining amount is reported on the the balance sheet.
Do you have to claim income for lawn mowing on your taxes?
Yes, although you can also set up a proprietorship and run it as a business which means you can deduct expenses (equipment, gasoline etc) from that income. If its just incidental income just add it to you income and don't worry about expenses. If its more substantial I would run it as a business, separate checking account, records, expenses etc
Does the 4000aed per month is sufficient in ras al khaimah uae?
A salary of 4000 AED is not enough to bear living expenses in Ras al Khaimah (UAE). Average rent of a one bedroom apartment in the city is 1500-2000 AED per month which would leave little for meeting other expenses.
