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This is Paula's monthly budget What percent of her expenses is spent on insurance?
20Given Paula's monthly budget, the percentage of expenses spent on insurance can be determined by subtracting all the other expenses from the monthly budget, which leaves you with the anoint spent on insurance.
What is accounting chart of accounts?
chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses
What are the list of nominal accounts?
all expenses are included in the nominal a/c. illustration :- commission, discount,consignment a/c rent , salary etc.
Why miscellaneous expenses treated on asset side?
Expenses are listed on the "Asset" side because the expenses effect Revenue (or income). Because Income is an Owners Equity account and is increased with a credit, expenses must be listed in the debit column. Also remember the accounting equation; Assets = Liabilities + Owners Equity (Stockholders Equity) The short answer, you want to deduct all your expenses from your equity (revenue account), the only way you can do that is to list expenses on the asset side, if you listed them in liabilities you would have to "Add" the to your revenue (equity account) and you would not get an accurate Revenue amount. When you pay an expense you credit the amount of cash at the same time you debit the expense. When closing out your accounts you can then list expenses on the income statement and it will decrease revenue because Assets - Owners Equity = Liabilities. This is true with all expenses, not just Miscellaneous. Basically, it keeps the accounting equation in balance.
List 6 types of expenses that would have a Control Sheet?
Yeast infection, climitia, syphilis, ghonarea, aids, and finally the most important of all herpes
This is Paula's monthly budget What percent of her expenses is spent on insurance?
20Given Paula's monthly budget, the percentage of expenses spent on insurance can be determined by subtracting all the other expenses from the monthly budget, which leaves you with the anoint spent on insurance.
What is the best way to keep to a budget?
You should make sure that all of your planned monthly expenses do not exceed your monthly income.
How to use a financial calculator online to budget monthly expenses?
Online financial calculators are a great way to plan out your monthly budget. There will be a section on income, where you enter all of the money coming into your account in a month. There will also be an expenses section where you enter all of your monthly outgoings. You can then calculate if there is a surplus or deficit on your monthly budget.
How can I generate a monthly income statement using Excel?
Excel can generate monthly income statements by typing "Income" in cell A1 of the worksheet. Below that, enter all monthly income. In cell A2, enter "Expenses", and then monthly expenses such as payroll, parts, goods, etc.
What should you do with money left over after all monthly expenses are paid?
Put into a savings account.
What should you do with the money left over after all monthly expenses are paid?
Put into a savings account.
How do you prepare a budget?
First figure out you total monthly net income. This is what you bring home every paycheck. Then list all of your fixed expenses Ex mortgage, water, car payment, and so on. Also, list the amount you plan on saving 10-15%. Subtract you expenses and savings from you net income. This is your "free" money. If you use a 0 based budget this should be 0.
What tax form are needed for home business expenses?
The tax form that you need is schedule C. This is where you will list all your expenses for your business including the expenses that are shared with your personal taxes.
What is the average monthly expenses per American family?
I am a mother of 2. there are 4 in my family and my average monthly expenses is usaully around 5293.09. I have also looked to see what i would have left if i was a single mother and every month since all together i get 5852.70 i would have 559.71 left. I have a 6 year old and a 4 month old.
What is accounting chart of accounts?
chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses chart where you have all the codes for expenses
What does net monthly outgoings mean?
Net monthly outgoings refer to the total amount of money spent or paid out each month after deducting all expenses, such as rent, utilities, groceries, and other bills, from the monthly income. It represents the actual amount of money leaving one's account or pocket each month.
Health care non-deductible expenses?
Publication 502 has all of the information on health care expenses. It has separate chapters that list both deductible and non-deductible expenses: http://www.irs.gov/pub/irs-pdf/p502.pdf
