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What else can I help you with?
What type of an account is a purchase?
contra-expense It's an expense, not a contra expense. If you don't pay the bill within the discount period, and you had recorded the original purchase at net (Purchase price less the early pay discount) then you have more expense, not less, when you don't pay on time.
What type of an account is a purchase discount?
contra-expense It's an expense, not a contra expense. If you don't pay the bill within the discount period, and you had recorded the original purchase at net (Purchase price less the early pay discount) then you have more expense, not less, when you don't pay on time.
What does Revenue less expense equal?
net income
Is tax payable on income an expense?
Taxes are payable on income less expenses
What happens if you eat a lot of healthy foods?
"You are what you eat" - that means if you eat healthy food, you will be more healthy; if you eat junk food, you will be less healthy. Healthier people have more energy, get sick less often, weigh less, and look better than unhealthy people.
Directions of computer development?
SMALLER SIZE, more power, less expense etc.
What healthy foods can be fried?
Almost any, they just become less healthy.
Why does expense account require a debit entry to increase equity?
A debit to an equity account, or in this case an expense account, will increase the expense account. An increase to this account means the more expenses you have. The more expenses mean the less money you earn and therefore you make less money in your income statement because revenues - expenses = income
Is an expense ratio prorated if you sell in a time period less than one year?
yes.
What increases retained earnings balance sheet?
more revenue or less expense or a combinatio of both
How does a company have income but take in less cash that it spends?
Income is all the money a company takes in (hence the name) expense is all the money a company spends profit is income - expense. just because expense > income doesn't mean there is no income. It means there is no profit.
What commission expense means?
Commission expense refers to the costs incurred by a business when it pays commissions to sales agents or brokers for facilitating sales or transactions. This expense is typically calculated as a percentage of the sales generated and is recorded in the income statement as a selling expense. Commission expenses are essential for incentivizing sales personnel and can significantly impact a company's profitability. Properly managing these expenses is crucial for maintaining healthy margins.
