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Is purchases an income or an expense?
it is neither an expense nor an income
What is the difference in percentage of income versus percentage of expense?
Income = expense + savings&investments Income = expense + savings&investments
Is purchase returns an expense or income?
it is neither an expense nor an income
Is directors remuneration an expense or an income?
Its an expense
What is a contra expense?
A reduction of an expense on the income statement.
Is purchases an income or an expense?
it is neither an expense nor an income
What is the difference in percentage of income versus percentage of expense?
Income = expense + savings&investments Income = expense + savings&investments
Is purchase returns an expense or income?
it is neither an expense nor an income
Is interest on fixed deposit an expense or income?
To the depositor, it is an income but to the bank or institution providing the fixed deposit as a product, it is an expense.
Is directors remuneration an expense or an income?
Its an expense
Is director remuneration is income or expense?
Its an expense
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
What is a contra expense?
A reduction of an expense on the income statement.
Where do the Maintenance expense go on the financial statement?
Maintence Expense is just like any other expense and will be reported on the income statement and deducted from Gross Income to obtain Net Income...
Is wages due debit or credit?
wages is expense and expense is debit salary is income and income is credit
Is income tax an expense?
Yes. Depending on the specifics, it may or may not be a TAX DEDUCTIBLE expense, but it is most certainly an expense. (For example, your (or a Cos) state income tax is an expense, it pays it, its bottom line - the money it has to give to its owners is lowered by it), but and it is a deduction (or expense) against FEDERAL taxable income. But it is noot an expense in calculating the income you pay the State Tax on. Just like the Federal tax is NOT an expense (deduction) you can use to calculate the State Taxable Income on.
Is interest from fixed deposit an expense or income?
an income
