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Is interest expense a selling or general and administrative expense?
Interest expense is neither selling or administrative, and it's too significant to be called a general expense. Interest expense is usually called a finance expense and is usually listed separately from SG&A, on the Income Statement
Is depreciation expense under administrative expense?
Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
Is depreciation expense is nominal account?
Yes depreciation is a nominal account and used to allocated the portion of fixed cost to income statement as an expense for that specific period.
What is cash interest expense?
A cash interest expense is a cash amount that accrues interest. These types of expenses vary depending on the type of account and the money present in the account.
What is the difference between net interest margin and net spread?
net interest margin=(Income interest-Expense interest)/average earning assets net spread=Income interest/average earning assets - Expense interest/average deposits and other funds
What journal entry accrues interest expense?
DR - Interest Expense CR - Interest Payable
Is interest expense a selling or general and administrative expense?
Interest expense is neither selling or administrative, and it's too significant to be called a general expense. Interest expense is usually called a finance expense and is usually listed separately from SG&A, on the Income Statement
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
Is depreciation expense under administrative expense?
Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
Unused fees on credit line should be operating expenses or interest expense?
Interest Expense
What is an example of an amortized expense?
The costs of long-lived intangible assets, such as patents, are allocated across time periods and reclassified as amortization expense.
Why debenture interest is expense but not within operating expense?
Issuance of debendutres is not an operating activity that's why interest on debenture is also a non operating expense
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
Can you deduct credit card interest as a business expense?
No, credit card interest cannot be deducted as a business expense.
Is interest expense listed on the income statement as an operating expense?
yes
