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What account head can be used in tally for expenses related to electrical work and building repair during setting up office?
Wiki User
∙ 11y ago
Indirect expense...
Wiki User
∙ 12y ago
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What is the meaning of nominal account and real account and personal account?
The account related to the individual firm , company,and institution is called personal account. THE account related to the things or properties of business organisation whose valuation can be done in terms of cash is called real account. the account related to the income , expenses,profit and gain is called nominal account. .
Can a person use their hsa account to pay for medical expenses for their live in girlfriend?
Qualified medical expenses are those incurred by the following persons.You and your spouse.All dependents you claim on your tax return.Click on the below related link
What does indirect expenses mean?
Indirect Expenses are those expenses which are incurred after the manufacturing process is over, e.g. selling and distribution expenses, all the administrative expenses, carraige outward, advertisement expenses because they are related indirectlt with the product manufacturing and sales.
What are examples of distribution expenses?
Distribution expenses are expenses related to getting the product from the place of manufacturing to the place where it is sold. This could include expenses related to import or export, postage, fuel, trucks, etc.
What is meant by selling expenses?
Selling Expenses are the expenses directly related to producing sales. Typical Selling Expenses would be Advertising and Salesman's Commissions.
Is one of the fixed asset accounts from Office Equipment Land Delivery Equipment or Building will not have a related contra asset account?
LAND
What types of educational expenses are deductible?
Qualified education expenses are tuition and certain related expenses required for enrollment or attendance at an eligible educational institution. Click on the below related link for more information and details.
What are checks?
Expense checks are used to cover work related expenses. These expenses must be able to be documented, and must be legitimate work expenses.
What goes on a income statement?
income statement includes expenses and incomes related to that specific single fiscal year for which that income statement is prepared. It is to clarify that only income and expenses related to that specific period is included and not for any other fiscal year.
What is Principles of account?
The matching principle refers to matching related income and expense items in the same accounting period. For example, if you had a store and had a big sale event on the last day of the month, and recorded all the income for that day, you would also want to make sure you accrued all the expenses related to the event (advertising, etc.) even though some of those expenses might not be paid until the following month. Similarly, if you had paid any expenses in the month before the sale, you would want to defer those expenses and call them "prepaid expenses" until the month of the sale.
Is depreciation of sales office equipment a selling expense?
The Sales Office is in charge of the selling of valuables of an entity. Thus, all expenses related to this office is debited to selling expenses. Furthermore, depreciation is a form of expense, and deserves a different account, but since it is related to the sales office, it is debited to selling expenses. Yes, it is a selling expense.
What is an account that reduces a related account?
A contra account
