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Is sales commission an expense or cost of sales?
Sales commission is a Cost of sales. But the salary of a sales agent is an 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.
Which account is not classified as a selling expense Freight-Out or Sales Salaries or Advertising Expense or Sales Discounts?
Which account is not classified as a selling expense?
Is sales return revenue or expense?
It's a contrarevenue. It would show up in the revenue section but as a debit as opposed to a credit. A return would decrease your revenues but not increase your expenses.
Does the sales discount increase an operting expense account?
Sales discount is a reduction of actual sales. It is not an expense rather it is the reduction is selling price which reduces the sales.
What is the accounting entry for sales return under warranty?
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
What is return inwards in accounting?
Return Inwards in accounting means SALES that was returned in your business by your customers maybe because there's something wrong or the customer is not satisfied with the product. SALES is your revenue and is credit in nature. RETURN INWARDS / SALES RETURN is the opposite of SALES, therefore, it's an expense and is debit in nature.
Is sales commission an expense or cost of sales?
Sales commission is a Cost of sales. But the salary of a sales agent is an 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.
How calculate expense-to-sales ratio?
sales to expense ratio should be under 10% of your net sales, on a monthly basis
Which account is not classified as a selling expense Freight-Out or Sales Salaries or Advertising Expense or Sales Discounts?
Which account is not classified as a selling expense?
What is the average expense to sales ratio for a sales representative?
The average expense to sales ratio for Pharmaceutical sales representative is around 8 to 12 % in Pakistan
Is sales return revenue or expense?
It's a contrarevenue. It would show up in the revenue section but as a debit as opposed to a credit. A return would decrease your revenues but not increase your expenses.
Does the sales discount increase an operting expense account?
Sales discount is a reduction of actual sales. It is not an expense rather it is the reduction is selling price which reduces the sales.
Is sales commission a current liability or an expense?
If sales commission is payable in future time then it is current liability but if it is paid already then it is expense.
How do you account cash sales return?
[Debit] Sales return [Credit] Cash /bank [Debit] Sales [Credit] Sales return
What accounts can be found in income statement?
Accounts found on an Income Statement are : Cost of Sales, Sales Rev., Selling Expense and Wage Expense
