0
What else can I help you with?
What accounts are not affected by closing entries?
the accounts affected by closing entries are temporary accounts like expenses
Is accounts payable same as expenses?
No
Which accounts normally have debit balances?
Assets, expenses, and revenuesAssets, expenses, and retained earningsINCORRECTAssets, liabilities, and dividendsAssets, expenses, and dividendsCORRECT ANSWER
What account do you credit when you debit operating expenses?
DR Operational Expenses CR Accounts Payable
Which are the direct expenses in trading accounts?
What is the meaning of Freight.
What accounts are not affected by closing entries?
the accounts affected by closing entries are temporary accounts like expenses
What accounts are affected by closing entries?
the accounts affected by closing entries are temporary accounts like expenses
Is accounts payable same as expenses?
No
Which accounts normally have debit balances?
Assets, expenses, and revenuesAssets, expenses, and retained earningsINCORRECTAssets, liabilities, and dividendsAssets, expenses, and dividendsCORRECT ANSWER
Expenses that have been incurred but not recorded in the accounts?
Expenses incurred but not yet paid or recorded are called accrued expenses.
What account do you credit when you debit operating expenses?
DR Operational Expenses CR Accounts Payable
What account do you debit when you credit operating expenses?
DR Operational Expenses CR Accounts Payable
What is preliminary expenses in final accounts?
It is deffered cost
Which are the direct expenses in trading accounts?
What is the meaning of Freight.
What accounts r called temporary capital accounts?
Income Summary, Drawing, Expenses and Revenue.
What is primary work?
Accounts Receivable + Inventory - Accounts Payables. (excludes prepaid expenses and accrued liabilities)
What is primary capital?
Accounts Receivable + Inventory - Accounts Payables. (excludes prepaid expenses and accrued liabilities)
