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Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
What else can I help you with?
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
Is rent expense an asset or liability?
Its an asset.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is accounts payable a liability or an expense?
Accounts Payable is a liability. Accounts receivable is an asset.
Is wage expense asset liability or owner's equity?
neither
Is wages expense a asset liability or owners equity?
neither
Would extra payments made on a credit card be an asset liability income or expense?
liability
Is expenses owing a current liability or a current asset?
expense owing is a current asset
Is a Payment for a vehicle Loan Liability considered an Expense that would show up in my monthly expense report in my Quicken XG 2004?
Yes payment of loan liability is your expense decreasing the liability as well as asset from which you are paying the loan liability.
