Unexpired expense is current assets until used so it is part of assets of business and should be included in assets side of balance sheet.
Income statement & balance sheet.
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Income statement & balance sheet.
Electricity is not part of balance sheet rather it is an expense and it is shown in income statement of business as expense.
All expenses have debit balance as normal accounting balance so all expenses shown on debit side of income statement.
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
Inventory is part of Balance sheet as well as income statement. Inventory is shown as an asset in balance sheet and as an expense when used in income statement.
Bad Debt Expense does not appear on the balance sheet. It is only on the income statement. Allowance for Uncollectible Accounts does appear on the balance sheet.
Rent is not a balance sheet account, it is an expense, hence an income statement account.
No a dividend is not an expense. It is generally a reduction of retained earnings in the equity section of the balance sheet.
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Accumulated Depreciation is reported on the balance sheetbecause it deals with the assets. However, depreciation expense is mentioned on the income statement.
Interest expense is shown at debit side of income statement because it is an expense for business.