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Are miscellaneous expenses an administrative expense or a selling expense?
Administrative one.
Is a miscellaneous expense a debit or a credit?
debit
Is a withdrawal a business expense?
It rather depends what the withdrawal was for. If it was for personal use - then no, but if it was for petty cash for example - then yes. The above gets there, but a withdrawal is NOT an expense of any type. It is simply getting cash from an account...you/business has no more or less after the withdrawal than before. Just where that asset is changes. The expense may occur when you spend the withdrawal on a tax deductible expense.
Show me How do you prepare an income statement?
fees earned-950,000 office expense -222,000 miscellaneous expense-16,000 wage expense-478,000
What is the journal entry for a withdrawal of 3000 was recorded as a debit to office expense and a credit to cash?
debit drawings 3000credit office expense 3000
What does miscellaneous mean in business?
Generally it means things that do not fit into established categories. For example, in finance or accounting, a miscellaneous expense is one that cannot or is not convenient to be entered into categorized expense accounts and is thus entered into the miscellaneous expense account.
Are miscellaneous expenses an administrative expense or a selling expense?
Administrative one.
Is a miscellaneous expense a debit or a credit?
debit
Is a withdrawal a business expense?
It rather depends what the withdrawal was for. If it was for personal use - then no, but if it was for petty cash for example - then yes. The above gets there, but a withdrawal is NOT an expense of any type. It is simply getting cash from an account...you/business has no more or less after the withdrawal than before. Just where that asset is changes. The expense may occur when you spend the withdrawal on a tax deductible expense.
Show me How do you prepare an income statement?
fees earned-950,000 office expense -222,000 miscellaneous expense-16,000 wage expense-478,000
Cash purchaes of miscellaneous expense item 155.00 plus GSTof 10.85 total 165.85?
misc.expenses
What is the journal entry for a withdrawal of 3000 was recorded as a debit to office expense and a credit to cash?
debit drawings 3000credit office expense 3000
Would costs incurred for advertising be considered revenue or expense?
it is considered as a deferred expense.
Is withdrawal considered an asset?
It is a liability
Are common stocks considered an expense?
Common stocks are indeed considered an expense. However, if the company from which the stock is issued is not profitable, it could be considered a liability.
Which of these is considered a fixed expense?
insurance
Is a cellphone considered a living expense?
No
