0
it is neither an expense nor an income
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
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 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 purchase returns an asset or liability?
purchase return is assets or liability or expense
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 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 director remuneration is income or expense?
Its an expense
Is directors remuneration an expense or an income?
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 will a decrease a revenue and a decrease in assets?
A sales refund will reduce income (debit to Sales Returns) and assets (credit to cash). A debit to Depreciation Expense and a credit to Accumulated Depreciation will reduce assets and net income.
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 Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
Is wages due debit or credit?
wages is expense and expense is debit salary is income and income is credit
