0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
Is the Depreciation a loss or an Expense?
An expense.
Do accrued expense accounts have debit balance?
accrued expense has debit balance like all other expenses.
Is recording an annual depreciation expense an accrued expense?
Yes. Annual depreciation is the method by which we allocate the cost of a tangible asset over the course of its useful life independent of the cash flows associated with it. As a result, it is considered an accrued expense.
Accumulated depreciation and depreciation expense?
Using accumulated depreciation and depreciation expense is a way that businesses can realize the true value of assets. A piece of equipment, for example, is devalued every year by the process of amortizing the asset. This in turn is recorded as depreciation and depreciation expense.
What is kind of operating expense is depreciation selling expense or general administrative expense?
Examples of operating expense ==> depreciation expense of a machine, impairment of goodwill Example of selling expense ==> advertising Example of general administrative expense ==> office expense
When does an accrued expense have to be paid?
An accrued expense is an accounting expense that is recognized in the books but has not yet been paid. It is usually a current expense. An accrued expense is paid when the due date for payment has reached, for example, wages are accounted for in the books before they are paid, but are usually paid either on a monthly or weekly basis depending on the policies of the company.
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
Is depreciation expenses a non-cash expense?
is depreciation expense a non-cash expense
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What are the examples of accrued expenses?
Accrued expense refers to an expense that has been incurred but not yet paid. Examples of accrued expense items might be interest that has accrued on an outstanding note that has not been paid, and taxes that have accrued but not yet been paid.
What is the accounting entry for Accrued Expense?
Dr. Accrued Expense Cr. Cash or Cash in bank
Prepaid expenses depreciation accrued expenses unearned revenues and accrued revenues are all examples of?
Prepaid expenses, depreciation, accrued expenses, unearned revenues, and accrued revenues are all examples of
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
Is the Depreciation a loss or an Expense?
An expense.
