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Interest income is part of revenue.
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∙ 11y ago
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Is rent expense an asset or liability?
Its an asset.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is insurance expense an asset or liability?
Prepaid insurance would be an asset. Insurance expense is when the insurance has been used up, thus making it an actual expense on the Income Statement. Whereas Prepaid Insurance on a Balance sheet is classified as an Asset.
Is rent income a asset liability or owners equity?
asset liability
Is interest payable a asset or liability?
liability
Would extra payments made on a credit card be an asset liability income or expense?
liability
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
Is income tax a current liability or an expense?
Accrued income tax (Income Tax Payable) is a current liability. When the tax is actually paid it is reported on the income statement as Income Tax Expense.
Interest paid on loan to buy an asset-asset or liability or expense?
Loan acquired to buy an asset is a liability of business so interest incurred on that loan is also part of that loan and that's why it is also the liability of business.
Is rent expense an asset or liability?
Its an asset.
Is expense a asset or liability?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is supplies expense a liability or asset?
Supplies expense is neither an asset nor a liability it is an expense. Prepaid supplies would be an example of an asset and as the supplies are used they become expenses, supplies expense.
Is insurance expense an asset or liability?
Prepaid insurance would be an asset. Insurance expense is when the insurance has been used up, thus making it an actual expense on the Income Statement. Whereas Prepaid Insurance on a Balance sheet is classified as an Asset.
Is rent income a asset liability or owners equity?
asset liability
Is income from operations an asset or liability?
An asset.
Money you loan as an expense?
No, it is neither an expense to you or income to the recepient. Loans are investments, even in a personal sense, a balance sheet, not income statement item. The (presumably cash/money) asset is offset by having an asset of another type....normally a receivable or investment ...it just isn't cash. (The borrower receives cash asset and has a corresponding liability of the payable). The income, presumably interest, on the loan is income. If the loan/investment isn't paid, and meets the qualifications for being a bad debt, the amount not repaid is an expense.
Is interest payable a asset or liability?
liability
