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If one wishes to make money doing creative projects, then time and expense should be considered. Operating a craft business is just like operating any other business when it comes to calculation of profits and pricing.
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Should aspects of expense and time be considered in creativity projects?
If one wishes to make money doing creative projects, then time and expense should be considered. Operating a craft business is just like operating any other business when it comes to calculation of profits and pricing.
Insurance an asset or expense?
Insurance is an expense, it should never be considered an asset. That is why cash-value policies are not recommended. Stick with simple term insurance and you will save money.
Restructuring charges be classified as an operating expense or as a nonoperating expense?
Should restructuring charges be classified as an operating expense or as a nonoperating expense?
Where to post bad debt expense on income statement?
It should be posted under operating expense.
When an expense is incurred but has not been paid it should be credited where?
When an expense is incurred but not yet paid, it should be credited to an "Accounts Payable" or "Accrued Expenses" account, reflecting the obligation to pay in the future. The corresponding debit should be recorded in the relevant expense account, such as "Rent Expense" or "Utilities Expense." This ensures that the financial statements accurately represent the company's liabilities and expenses in the period they were incurred.
Should aspects of expense and time be considered in creativity projects?
If one wishes to make money doing creative projects, then time and expense should be considered. Operating a craft business is just like operating any other business when it comes to calculation of profits and pricing.
Should investments be listed under expense or revenue in an income statement?
The money that you invest should be counted as an expense. The income from your investment would be considered revenue.
Insurance an asset or expense?
Insurance is an expense, it should never be considered an asset. That is why cash-value policies are not recommended. Stick with simple term insurance and you will save money.
Rent expense cost of sales?
Rent expense is considered an overhead cost, not a cost of sales since it does not directly relate to the merchandise you are selling. Any prepaid rent (such as at the beginning of the month) should receive a journal entry debit to an account called prepaid rent, and at the end of the month should be credited to rent expense. Hope this helps.
Restructuring charges be classified as an operating expense or as a nonoperating expense?
Should restructuring charges be classified as an operating expense or as a nonoperating expense?
Does health insurance usually cover Alcoholism Rehabilitation?
Alcoholism is usually considered a disease and rehab is usually considered a necessary medical expense. So your insurance should cover it. However you should read your policy and check to be sure.
Unused fees on credit line should be operating expenses or interest expense?
Interest Expense
Where to post bad debt expense on income statement?
It should be posted under operating expense.
Is business correspondence considered to be intellectual property?
Correspondence made entirely of facts, such as sales charts, may not be copyrightable, but anything requiring creativity or originality should be.
When an expense is incurred but has not been paid it should be credited where?
When an expense is incurred but not yet paid, it should be credited to an "Accounts Payable" or "Accrued Expenses" account, reflecting the obligation to pay in the future. The corresponding debit should be recorded in the relevant expense account, such as "Rent Expense" or "Utilities Expense." This ensures that the financial statements accurately represent the company's liabilities and expenses in the period they were incurred.
What should Utility bills be classifieds as?
An expense
Utility bills should be classified as?
An expense
