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Is an asset similar to an expense?
No. An asset is anything of value a company owns. An expense is the cost of the company to conduct regular business. Expenses include such things as Salaries/wages for employees, insurance, taxes, electricity, supplies, etc. There are expenses related to the cost of obtaining assets, such as supply expense, however the supply expense is not used until the assets themselves are used. For example, you purchase $500 in supplies, upon doing inventory of your supplies you have $300 left, at this point you deduct (credit) your supplies to reduce on hand and debit supply expense. Expenses do not directly effect assets, but instead effects Income. Assets are listed on the Balance Sheet (expenses are not) Expenses are listed on the Income Statement (Assets are not)
Is supplies a current asset?
Supplies on hand and paid for are assets.
Journal entry for purchased dental supplies and supplies that are on hand?
Debit dental supplies inventoryCredit cash / bank
What is the difference between miscellaneous expense and other expenses?
Miscellaneous expenses means small sundry expenses of business while other expenses means expenses which are not directly related to the primary operations of business.
Is the purchase of office supplies debit or credit?
Assets carry a debit balance, supplies are an asset, so supplies carries a debit balance.There's more to supplies being either a debit or credit than just that. Supplies are generally something you use to keep your business going, whether a service business or a merchandising business or whatever.When you purchase supplies to use in your business, we will assume the company purchased these supplies using cash, then we would Debit Supplies and Credit Cash. As long as you have those supplies on hand then they show up as a debit on the books. Once you use them and say take inventory the amount of supplies you use will change. For example, say my business is cleaning homes. I have cleaning supplies that total $500, on my books under supplies I have a debit for $500. This month I used $400 of those supplies, I would then adjust my books as a Debit to Supply Expense and a Credit to Supplies.Supplies on hand show on the books as a Debit, when used, are transferred to Supply Expense as a Debit.
What would be your favorite star wars party supplies?
My favorite star wars party supplies would have to be plastic lightsabor for every child. It may get a little out of hand, but you can hand them out as each child leaves
Is an asset similar to an expense?
No. An asset is anything of value a company owns. An expense is the cost of the company to conduct regular business. Expenses include such things as Salaries/wages for employees, insurance, taxes, electricity, supplies, etc. There are expenses related to the cost of obtaining assets, such as supply expense, however the supply expense is not used until the assets themselves are used. For example, you purchase $500 in supplies, upon doing inventory of your supplies you have $300 left, at this point you deduct (credit) your supplies to reduce on hand and debit supply expense. Expenses do not directly effect assets, but instead effects Income. Assets are listed on the Balance Sheet (expenses are not) Expenses are listed on the Income Statement (Assets are not)
Is supplies a current asset?
Supplies on hand and paid for are assets.
How are hand tools classified tools classified?
Under Tools and Equipment
What type of work would you do all day if you were a vet assistant?
I think you would just hand the vet the supplies they need or whateverrr. :)
Journal entry for purchased dental supplies and supplies that are on hand?
Debit dental supplies inventoryCredit cash / bank
Is overhaul expenses of second hand machinery purchased are revenue expenses?
Overhaul expense on a second hand machinery is a capital expense, and should be added to the original cast of the asset.
What is the state where supply and demand are in balance?
beginning balance supplies 4,300 purchase supplies is 5,000 supplies on hand totals 2400
Suppose 100 rupees in your hand and 40 rupees you are expenses how many rupees in your hand?
60 rupees
What is the difference between miscellaneous expense and other expenses?
Miscellaneous expenses means small sundry expenses of business while other expenses means expenses which are not directly related to the primary operations of business.
Which nerves supplies the lateral hand and runs through the carpal tunnel?
The median runs through the carpal tunnel. It supplies the thumb side of the hand.
How do you prepare bank account personal expenses cash in hand?
To prepare the bank account personal expenses cash in hand the credit and the debit section must be created. This will enable the proper balancing of the expenditure and the income.
