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Is it possible for costs such as salaries or depreciation to end up as assets on the balance sheet?
Typically, salaries and depreciation are considered expenses and are reflected on the income statement, not the balance sheet. However, certain costs, such as capitalized salaries related to asset development or construction, can be included as part of an asset's value on the balance sheet. Similarly, while depreciation itself is an expense, it reduces the carrying value of an asset on the balance sheet. Thus, while salaries and depreciation are generally not assets, specific contexts can allow for some costs to impact asset values.
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is utilities asset or expense?
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.
How do you record accrued salaries?
Debit Salaries Expense, Credit Salaries Payable.
How do you calculate salaries?
1 :if we paid salary to employee then it will be expense for business 2 :and all expence are debit accourding to rule so salary is expense for busines it will be written on debit side and our cash/asset is decreasing so it will be credit entry is salaries to cash
Is depreciation expense an asset or liability?
Depreciation expense is neither an asset or liability. It is an expense.
When do you expense an asset?
preliminary expense is the expense for fitting the asset or similar works, so this expenses capitalized.... and is called fixed asset
Is warranty expense a current or non-current asset?
An expense is not an asset at all.
Is utilities asset or expense?
Expense
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.
How do you record accrued salaries?
Debit Salaries Expense, Credit Salaries Payable.
Is rent expense an asset or liability?
Its an asset.
Is salary an expense?
Yes. No , Its not a Expense. Its an Asset.
Is sales revenue an expense or asset?
Sales is a revenue not an expense or asset while difference between sales and expense is profit which is liability for business.
Is salaries is the part of owners equity?
No, Salaries are an expense. EXPENSE is a part of owners equity but you would not put salaries in the owners equity group you would put it with the expenses.
