Yes, for a small co 401k
The word 'expense' is both a noun and a verb.The verb to 'expense' means to offset an item of expenditure against taxable income; to charge something to an expense account; a word for an action.
To record a journal entry for an insufficient funds charge, you would typically debit the bank fees expense account to reflect the cost incurred and credit the cash account to decrease the cash balance. For example, if the charge is $35, the entry would be: Debit Bank Fees Expense $35 and Credit Cash $35. This accurately reflects the expense and the reduction in cash due to the insufficient funds charge.
cash generate from normal course of business that able to cover the fixed charge such as lease and interest expense
To record an audit disbursement charge, the accounting journal entry would typically involve debiting the appropriate expense account (e.g., Audit Expense) and crediting Accounts Payable or Cash, depending on whether the payment is made immediately or will be paid later. The entry would look like this: Debit: Audit Expense Credit: Accounts Payable (or Cash) This reflects the recognition of the expense incurred for the audit services.
The only time professional charges would be a fixed cost expense is when you pay exactly the same charge every reporting period (monthly, quarterly, or yearly). If the professional charge changes depending of the amount of work done or time spent, then it is not fixed. Sometimes lawyers or accountants will work for a fixed fee that doesn't change over a period of time. Then it is a fixed cost expense.
The correct spelling is "expense" (expense, charge).
cost, value, charge, expenditure, expense
The word 'expense' is both a noun and a verb.The verb to 'expense' means to offset an item of expenditure against taxable income; to charge something to an expense account; a word for an action.
Gifts
cost, charge, expenditure, payment, spending, outlay
A premium expense charge imposed by an insurer is typically found on universal life insurance policies and is designed to enable the insurer to recover its business acquisition costs and premium taxes.
rate, price, cost, charge, amount, expense
The charge over time can affect the performance of a battery by gradually reducing its capacity and ability to hold a charge. This can lead to decreased battery life and overall performance.
school board
The Nationwide Building Society is based in Britain and is also the largest building society in the world Geoffrey Howe is the Chairman while Graham Beale is Chief Executive.
To record a journal entry for an insufficient funds charge, you would typically debit the bank fees expense account to reflect the cost incurred and credit the cash account to decrease the cash balance. For example, if the charge is $35, the entry would be: Debit Bank Fees Expense $35 and Credit Cash $35. This accurately reflects the expense and the reduction in cash due to the insufficient funds charge.
Sales