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Where is admin expense posted in trial balance?
Admin expenses are typically posted in the trial balance under the "Expenses" section. This section is located below the revenue accounts and reflects all operating expenses incurred during a specific period. In a standard trial balance format, admin expenses contribute to the overall total of expenses, which is then used to calculate net income.
Does the executor's fee include personal expenses and personal labor incurred during the administration of the estate or should this be billed separately to the estate?
The executor's fee is compensation for the work done. It is often calculated as an hourly rate, plus appropriate expenses (mileage, phone calls, etc.). In some places it is capped by law to a certain percentage of the estate's value.
If accounts payable have increased during a period will the expenses on an accural basis be less than expenses on a cash basis?
expenses on an accrual basis are greater than expenses on a cash basis
Difference between outstanding expenses and prepaid expenses?
Outstanding expenses are the expenses which have fallen due at the end of the accounting period but which has not been paid. Its a liability for the company and will be shown under the Current liabilities and provisions. Prepaid expenses are the expenses which paid during the year before its due. The money is paid out but its not due at the end of the period. Its an asset and will be shown under current Assets in the Balance sheet.
What is Accrued Sundry Exp?
Accrued expenses or accrued sundry expenses are those expenditure which are incurred during the specific time but the payment not to be paid with in that specific time that are called the accrued expenses or accrued sundary expenses. Accrued expenses are also called outstanding Expense.This will be the liablity of the owner and shown in the liablity side of the balance sheet.
What is the period costs formula used to calculate the total expenses incurred by a company during a specific time frame?
The period costs formula is used to calculate the total expenses incurred by a company during a specific time frame. It is calculated by adding up all the costs that are not directly related to the production of goods or services, such as administrative expenses, marketing expenses, and other operating costs.
What does personal accident insurance cover?
Personal accident insurance covers the insurance in case of an accident during working hours and leisure time. Accident insurance varies based on the premium, but it usually covers the hospital expenses and additional expenses.
What application is best for creating a budget?
There are at least two ways.For example, if you work and have a regular income:Start with the maximum amount of money available in a period, then list the expenses that must be paid during the same period. Include savings and charity.If you have an irregular income, or if you have unlimited access to funds:List your fixed expenses and your variable expenses and calculate how much you need during a period.
Where is admin expense posted in trial balance?
Admin expenses are typically posted in the trial balance under the "Expenses" section. This section is located below the revenue accounts and reflects all operating expenses incurred during a specific period. In a standard trial balance format, admin expenses contribute to the overall total of expenses, which is then used to calculate net income.
What is the assumption of all expenses during your stay?
The assumption is that all expenses during your stay will be covered.
How to find expenses in accounting?
To find expenses in accounting, you need to look at the company's financial records, such as income statements or profit and loss statements. Expenses are typically listed as line items on these statements, showing the costs incurred by the company in running its operations. By analyzing these statements, you can identify and calculate the total expenses incurred by the company during a specific period.
How can one calculate the total expenditure for a given period?
To calculate total expenditure for a given period, add up all the expenses incurred during that time frame. This includes costs for goods, services, and any other payments made.
Does the executor's fee include personal expenses and personal labor incurred during the administration of the estate or should this be billed separately to the estate?
The executor's fee is compensation for the work done. It is often calculated as an hourly rate, plus appropriate expenses (mileage, phone calls, etc.). In some places it is capped by law to a certain percentage of the estate's value.
What is a accrued expense?
Accrued expenses arethe expenses which are not yet paid during the financial year for the services rendered during the financial year.
If accounts payable have increased during a period will the expenses on an accural basis be less than expenses on a cash basis?
expenses on an accrual basis are greater than expenses on a cash basis
What is meant by Donor Expenses?
Donor Expenses are expenses incurred by the donor for donating an organ (excluding the cost of the organ) to the insured during the course of an organ transplant all the hospitalization expenses are paid by the insurance company.
How do I calculate the cost basis for inherited stock?
To calculate the cost basis for inherited stock, you typically use the value of the stock on the date of the original owner's death. This is known as the stepped-up basis. You can also adjust the basis for any additional expenses or fees incurred during the inheritance process.
