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What else can I help you with?
Is freight a current asset or non current asset?
it is a expense
Is expenses owing a current liability or a current asset?
expense owing is a current asset
How would you determine whether an asset is current asset or noncurrent asset?
I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
Is rent expense an current asset or non current assets?
Rent expense is an expense. If you pre-pay it (prepaid expense), it is a current asset, because you are generally only going to be prepaying it for like a month or so in advance.. Current asset - financial benefits received within 12 months. Non-current asset - financial benefit received beyond 12 months.
Is prepaid rent is asset?
Yes, any expense paid in advance is current asset as the actual benefit will be taken in future time period.
Is freight a current asset or non current asset?
it is a expense
Is expenses owing a current liability or a current asset?
expense owing is a current asset
How would you determine whether an asset is current asset or noncurrent asset?
I am taking a course in Accounting, and I was taught that an asset is current if it will be used up within one year. Long-term assets are those that last over 12 months.
Is rent expense an current asset or non current assets?
Rent expense is an expense. If you pre-pay it (prepaid expense), it is a current asset, because you are generally only going to be prepaying it for like a month or so in advance.. Current asset - financial benefits received within 12 months. Non-current asset - financial benefit received beyond 12 months.
Is prepaid advertising a current assets?
Yes prepaid advertising is current asset as this expense is paid in advance but benefit which is takeable in near future time that's why it is current asset.
How do you convert noncurrent assets into assets?
since noncurrent assets are fixed assets and current asset are business properties tend to be used within a years period example machinery a business can put their properties on sale example they can rent them out as hire purchasing from them the business gets money
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 prepaid rent is asset?
Yes, any expense paid in advance is current asset as the actual benefit will be taken in future time period.
What is prepaid expense and where is it reported in the financial statements?
Prepaid expense is that amount of expense which is paid in advance and expense is not actually incurred and prepaid expense is current assets of business and show under assets side of balances heet.
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.
