0
What else can I help you with?
What is the journal entry for revenue received from professional fees?
cash a/c debit fees a/c credit
Journal entry for revenue received from professional fees?
debit cashcredit professional fee revenue
What is unearned fees?
These are fees received but not yet earned, such as professional fees from clients. Unearned fees is classified as a current liability on a company's balance sheet, assuming that it will be credited within the normal accounting cycle.
How are debt collectors fees treated when preparing a cash budget?
Frequently they will be classed as professional fees similar to those for accounts and legal teams
When determining professional fees what three VALUES are considered?
usual,customary,reasonable
Who is a professional when referring to the exclusion under a commercial general liability policy for professional fees?
The "Professional",, would be the person or entity "Insured" under the contract.
Is there a cost to take a professional engineers exam?
Yes, like most other exams in the professional field there are fees involved. http://www.testmasters.com/faq-pe.html gives the specific fees and dates of the test and answer many frequently asked questions about the test.
What three values are considerdedin determining professional fees?
Three key values considered in determining professional fees are expertise, market demand, and the complexity of the service provided. Expertise reflects the professional's skills and experience, which can justify higher fees. Market demand influences pricing based on the availability of similar services and competition. Lastly, the complexity of the service accounts for the time, effort, and resources required to deliver the service effectively.
Is professional fees a fixed or variable cost?
Professional fees can be considered a variable cost, as they often fluctuate based on the level of services rendered or the amount of work involved. For example, fees for consultants or legal services may vary depending on the specific project or hours worked. However, if a business has a retainer agreement for ongoing services, those fees could be classified as fixed costs during the contract period. Ultimately, the classification depends on the nature of the engagement and how the fees are structured.
Can you deduct lawyer fees on your taxes?
In general, you can deduct lawyer fees on your taxes if they are related to certain types of expenses, such as business or investment activities. However, personal legal fees are usually not deductible. It's important to consult with a tax professional for specific guidance on deducting lawyer fees on your taxes.
When a company successfully defends the patent in extended litigation - what is the proper way to account for the cost?
It is considered an expense on the Income Statement, which should be allocated to "Professional Fees" or "Accounting and Legal Fees"
Are credit card fees tax deductible for self-employed individuals?
Credit card fees are generally not tax deductible for self-employed individuals. However, fees related to business expenses may be deductible. It is recommended to consult with a tax professional for specific guidance on deducting credit card fees.
