0
What else can I help you with?
What type of expense would use office supplies on hand that will be used in the next period?
Office supplies on hand that will be used in the next period are typically classified as a current asset rather than an expense. When these supplies are purchased, they are recorded as inventory. As they are utilized in the subsequent period, their cost is then recognized as an expense, specifically under "office supplies expense" in the income statement. This aligns with the matching principle in accounting, which aims to match expenses with the revenues they help generate.
Is factory supplies a product or a period cost?
Product cost
Is depreciation on office equipment classified as a period cost or product cost?
period cost
The entry to adjust for the cost of supplies used during the accounting period is?
debit Supplies Expense; credit Supplies
Is depreciation on factory equipment a period cost?
It's a Product cost. Think Selling (Store) and Administrative(Office) cost for period cost. The machines are in the factory.
Is supplies for administrative office classified as period cost of product cost?
Supplies for an administrative office would be classified office supplies, which is always treated as a cost of a period. Supplies for a manufacturing company would be classified as a product cost, i.e. wood (supply) in order to make desks (end product).
Is factory supplies a product cost or period cost?
Product cost
Is factory supplies a product or a period cost?
Product cost
Is depreciation on office equipment classified as a period cost or product cost?
period cost
The cost of office supplies to be used in future periods is ordinarily shown on the balance sheet as?
The cost of office supplies to be used in future periods is ordinarily shown on the balance sheet as Assets.
The entry to adjust for the cost of supplies used during the accounting period is?
debit Supplies Expense; credit Supplies
What is the average cost for office supplies for a home based business?
$5,500.00
Can I order wholesale packaging from the poast office?
The poast office does offer packaging supplies. Most poastal supplies are at no cost.
Is depreciation on factory equipment a period cost?
It's a Product cost. Think Selling (Store) and Administrative(Office) cost for period cost. The machines are in the factory.
Where can you get office supplies?
At an office supply store. One can either visit an office supplies store or order office supplies online.
Discount Office Supplies?
form_title= Discount Office Supplies form_header= Save money on discount office supplies. What supplies do you need?*= _ [50] Do you want your company logo on the supplies?*= () Yes () No What is your budget for office supplies?*= _ [50]
Where can I find a good deal on ink cartridges?
Most office supplies stores will sell these at a reasonable price. I prefer going to a store that specializes in office supplies like Office Max or Office Depot. If cost is your only concern then you should go to Target or Wal-Mart.
