115.00cerdit
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
Office supplies beginning balance 6000Add: Purchases 10000Total 16000Less:closing balance 4000Supplies expense for current period 12000
Any account on the balance sheet is a permanent account - 'Cash', 'Accounts Receivable', 'Accounts Payable'. Income and expense accounts are temporary accounts because they are closed at the end of an accounting period. Examples are: 'Service Revenue', 'Office Expense', and, my personal favourite, 'Meetings and Entertainment Expense'.
Office expense
yes it is an indirect expense
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
Office supplies beginning balance 6000Add: Purchases 10000Total 16000Less:closing balance 4000Supplies expense for current period 12000
Any account on the balance sheet is a permanent account - 'Cash', 'Accounts Receivable', 'Accounts Payable'. Income and expense accounts are temporary accounts because they are closed at the end of an accounting period. Examples are: 'Service Revenue', 'Office Expense', and, my personal favourite, 'Meetings and Entertainment Expense'.
You can get a print out of your account balance at the company that holds your account. Either you go to their website and log in or you go to their office.
Office expense
If you want know NRE account balance from dubai, you will call to your bank branch manager and ask to him for your account balance, then he will replay to you. otherwise you can go to there directly branch office and you will get all the information.
yes it is an indirect expense
yes
how can i check my balance through my net while sitting in my office or home
Indirect expense...
Say I purchsed $500 in Office Supplies on account, I return the office supplies, since I purchased them on account, the company I purchased them from will extend me a credit to my account decreasing the balance I owe them by the said amount. My books will record....Account Payable (debit)Office Supplies (credit)I debit my Account Payable to show that I no longer owe that amount and I credit my Office Supplies to show that I no longer have that amount of supplies on hand.
Assets - Liabilities = Capital Also expressible as Assets = Capital + Liabilities. The accounting equation can be extended to include the Income and Expense accounts: Assets + Expenses = Capital + Liabilities + Income. With the accounting equation specified in the second and extended versions above, those on the left of the equals [normally] have left hand side of a T-account balance, ie a Debit balance; and those on the right [normally] have a right hand side of a T-account balance, ie a Credit balance. eg office furniture is an asset and has a debit balance; a bank loan is a liability and has a credit balance.