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only salaries of employees engaged in selling can be classified as selling expense..salary of salesperson,saleslady,salesman,sales supervisor are the examples that fall under selling expense..it is classified as selling expense, simply because the expense occurred in selling department.
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∙ 12y ago
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Which amount should a company record as wages or salaries expense?
Wages is salary. Its the same terminology If you are talking about addition payments classed as expenses paid in to the (Wage/salary) then it depends if the amount is "claimed" is taxable - If taxable the amount is shown as a subtotal before the wage/salary figure and then totalled then take and insurances/deductions then net paid If its not taxable its goes on the end after taxes are removed and shown as net wage plus expense The company is obliged to record either for tax purposes and for the annual accounts to reflect payments out on the balance sheet
Unused fees on credit line should be operating expenses or interest expense?
Interest Expense
How should you divide your salary?
20%
Where do you place loan interest in the trading account and is it an expense?
As an expense, loan interest should be placed in the debit side of the Profit & Loss A/c and not in the Trading a/c.
Is mortgage valid if your name is spelled incorrectly on deed and all documents?
Yes. If you signed the documents then the mortgage is valid. However, you should notify the attorney who represented you at the closing that your name is misspelled. A corrective deed and mortgage should be recorded at the attorney's expense to clear your title. You should do that ASAP.Yes. If you signed the documents then the mortgage is valid. However, you should notify the attorney who represented you at the closing that your name is misspelled. A corrective deed and mortgage should be recorded at the attorney's expense to clear your title. You should do that ASAP.Yes. If you signed the documents then the mortgage is valid. However, you should notify the attorney who represented you at the closing that your name is misspelled. A corrective deed and mortgage should be recorded at the attorney's expense to clear your title. You should do that ASAP.Yes. If you signed the documents then the mortgage is valid. However, you should notify the attorney who represented you at the closing that your name is misspelled. A corrective deed and mortgage should be recorded at the attorney's expense to clear your title. You should do that ASAP.
What service charges should be classified when a retailer regularly sells its receivables to a factor?
Selling expense is what the charges should be classified when a retailer regularly sells its receivables to a factor.
Restructuring charges be classified as an operating expense or as a nonoperating expense?
Should restructuring charges be classified as an operating expense or as a nonoperating expense?
Utility bills should be classified as?
An expense
Cost of inventory should be classified as?
expense
Should restructuring charges be classified as an operating expense or as a non operating expense?
Non-operating I believe, because they are non-recurring
Is depreciation of sales office equipment a selling expense?
The Sales Office is in charge of the selling of valuables of an entity. Thus, all expenses related to this office is debited to selling expenses. Furthermore, depreciation is a form of expense, and deserves a different account, but since it is related to the sales office, it is debited to selling expenses. Yes, it is a selling expense.
What should rent be classified as on a balance sheet?
Rent is not a balance sheet account, it is an expense, hence an income statement account.
What kind of expense is rent expense?
Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
Rent expense cost of sales?
Rent expense is considered an overhead cost, not a cost of sales since it does not directly relate to the merchandise you are selling. Any prepaid rent (such as at the beginning of the month) should receive a journal entry debit to an account called prepaid rent, and at the end of the month should be credited to rent expense. Hope this helps.
What should you know about how to calculate mortgages?
The key to calculating a realistic mortgage is to know the following: Your personal credit score, your annual salary, your net salary, and your personal budget for home expense. Armed with this information any internet mortgage calculator should give you a reasonable estimate.
What is preoperative expenses and where it should be shown in the balance sheet?
Preoperative expense is expense incurred before starting operation of business i.e. Commercial operation all expense whether it is salary , fee of engineer , all expense which is necessary to start the operation needs to be capitalized under plant or building or machinery etc. Preliminary & preoperative are different. Preliminary is before incorporation of business while preoperative is after.
Should I classify a Raymond Weil tango as jewelry?
Yes, a Raymond Weil Tango watch would be classified as jewelry. If you are selling your father's watch on eBay, you should list it under the jewelry category.
