A prepaid expense is an asset listed on the balance sheet.
true
Record it as an expense.
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
The 2 types of QuickBooks accounts are "Balance Sheet" accounts and "Income and Expense" accounts. Balance sheet accounts can be used to create and add to chart of accounts. Income and expense accounts track income sources and the purpose of each expense.
A prepaid expense is an asset listed on the balance sheet.
Electricity is not part of balance sheet rather it is an expense and it is shown in income statement of business as expense.
Tax is an expense, you do not record it in a balance sheet but on the general journal.
Payment of insurance expense affects the balance sheet as it reduces the cash or bank balance which is part of balance sheet as well.
Bad Debt Expense does not appear on the balance sheet. It is only on the income statement. Allowance for Uncollectible Accounts does appear on the balance sheet.
the sections of a balance sheet is the expense, revenues, and the sales.
true
When you pay back a loan or mortgage, part of each payment is interest, the rest is principal. For the interest part you would have Interest Expense, for the principal part something like Mortgage Expense.
An an Expense
Record it as an expense.
Prepaid expense is that amount of expense which is paid in advance and expense is not actually incurred and prepaid expense is current assets of business and show under assets side of balances heet.
Rent is not a balance sheet account, it is an expense, hence an income statement account.