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When periodic expense created by allocating the cost of fixed assets to the periods in which they are used representing the expense of using the assets is called?
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The process of allocating the cost of plant assets to expense over their useful lives is called-?
Depreciation
Is utility expense is a credit or debit?
An increase in any expense is a debit entry, so if your were recording the amount paid for a utility expenditure, the entry would be: Dr Utility expense (representing an addition to this expense account) Cr Cash (representing an outflow (decrease) in cash)
The periodic transfer of the cost of an intangible asset to expense?
amortization
The periodic transfer of the cost of an intangible asset to expense is referred to as?
depreciation
What is The term applied to the periodic transfer of a fixed asset's cost to expense is?
Depreciation
Does the Depreciation measure the actual decline in market value of an asset?
No. Depreciation is the process of allocating to expense the cost of a plant asset.
What does periodic or occasional expenses mean?
Water bill is a periodic expenses because they send the bill every three months, the car property tax is another, because it is yearly, the home property tax is yearly, the county decal is yearly, the car tags are yearly, so they are periodic, occasional expenses could be car repair and maintenance to pass inspection, home repair that is needed, moving expense, a needed new computer or work tool, a new car, etc. that you do not incur regularly is an occasional expense, even doctors or hospitals bills. Anything you paid regularly, like rent, mortgage, car insurance, phone is a periodic expense, because it is a monthly, quarter or yearly expense, even loan payments are periodic, if you pay them monthly.
How do you use the word allocating in a sentence?
* shed: Her first shed allocation was Salisbury, where she worked the south western main line. Adjective modifier * budgetary: This reflects the eminently political nature of EU budgetary allocations at the expense of a true poverty focus. Modifies a noun concealment: The studies were also assessed for allocation concealment and use of intention-to-treat analysis
What would the journal entry be if a company incurred an expense?
There may be more than one way to record an expense. The easiest journal to think about is when you've used cash to pay for the expense. In that case, you would debit an expense account and credit cash. But, if you've received the benefit of an expense but have not yet paid for it the debit would still be the expense account but the credit would be a liability account. Of course, there are times when cash flows but no expense is recognized such as investments in property, plant and equipment. After that expenditure is made you would recognize periodic expenses in the form of depreciation. That would be a debit to depreciation expense and a credit to accumulated depreciation.
How were Chinese medicines created?
An over expense of human beings, a bloodlust and and experimentation...
Depreciation expense of building is a administrative expense or a selling expense?
selling expense
Is an office expense an indirect expense?
yes it is an indirect expense
