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What is the difference between office supplies account and office supplies expense account?

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


The office supplies account showed a beginning debit balance of P6000 and purchases of P10000.The ending debit balance was P4000.?

Office supplies beginning balance 6000Add: Purchases 10000Total 16000Less:closing balance 4000Supplies expense for current period 12000


Is notes payable a permanent account?

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'.


How can a person get a print out of their account balance?

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.


Is toner an office expense or an operating expense?

Office expense


How you can check iob nre account balance from Dubai?

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.


Is an office expense an indirect expense?

yes it is an indirect expense


Is an office expense a selling expense?

yes


How can you check your account balance in h b l?

how can i check my balance through my net while sitting in my office or home


What account head can be used in tally for expenses related to electrical work and building repair during setting up office?

Indirect expense...


What account is affected in an account journal when you return office supplies that was bought on account?

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.


What is accounting equation?

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.