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What is nature of Prepaid expense?
Asset
Is a prepaid expense on the balance sheet or the income statements?
A prepaid expense is an asset listed on the balance sheet.
Is prepaid insurance a current asset or fixed asset?
Current Asset
What type of account is a prepaid expense account?
A prepaid expense account is an asset, thus not a temporary account either.
Is insurance expense an asset or liability?
Prepaid insurance would be an asset. Insurance expense is when the insurance has been used up, thus making it an actual expense on the Income Statement. Whereas Prepaid Insurance on a Balance sheet is classified as an Asset.
Is prepaid rent is what type of asset?
Prepaid Rent is a Current-Asset account. Since it deals with "prepaid" it will expire on a regular basis and is not a "fixed" asset. Each month (or whatever terms the rent may be paid) the amount is removed from Prepaid-Rent and placed in Rent Expense.
What is nature of Prepaid expense?
Asset
Is a prepaid expense on the balance sheet or the income statements?
A prepaid expense is an asset listed on the balance sheet.
What does an asset expense relationship exist with?
prepaid expense adjusting entries
Is prepaid insurance a current asset or fixed asset?
Current Asset
What type of account is a prepaid expense account?
A prepaid expense account is an asset, thus not a temporary account either.
What account type is a prepaid expense account?
A prepaid expense account is an asset, thus not a temporary account either.
What account types is a prepaid expense account?
A prepaid expense account is an asset, thus not a temporary account either.
Is expense a asset or liability?
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 insurance expense an asset or liability?
Prepaid insurance would be an asset. Insurance expense is when the insurance has been used up, thus making it an actual expense on the Income Statement. Whereas Prepaid Insurance on a Balance sheet is classified as 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.
When do you expense an asset?
preliminary expense is the expense for fitting the asset or similar works, so this expenses capitalized.... and is called fixed asset
