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What else can I help you with?
What happens if you fail to record payment of an expense in accounting?
It would appear as if the payment is still due.
How do you record an increase in a liability account?
Any increase is an credit for a liability
How do you record a Construction in Process liability?
How do a liability of a CIP get recorded? Please Journalize.
Do cash dividends become a liability to a corporation on the date of record?
No, cash dividends do not become a liability to a corporation on the date of record. The liability for cash dividends is established on the declaration date when the board of directors formally approves the dividend payment. The date of record is simply the cutoff date to determine which shareholders are eligible to receive the dividend. Thus, the liability is recorded only after the declaration.
What is an accured liability?
A liability that arises because an expense happens in a time span former to the associated money payment.
What happens if you fail to record payment of an expense in accounting?
It would appear as if the payment is still due.
How do you record an increase in a liability account?
Any increase is an credit for a liability
How do you record a Construction in Process liability?
How do a liability of a CIP get recorded? Please Journalize.
Usually failure to record a liability means failure to record an?
Expense
When does a corporation record a dividend related liability?
on a declaration date
What happens when you die in sat?
You fail!
Failure to record a liability will probably?
result in a overstated net income
How much does collision liability cost?
It depends on your record and who your insurance company is.
What happens if an accrued liability for salaries is not recorded?
If an accrued liability is not recorded, then it is not a liability on the balance sheet. Not sure if the employee's could sue - that's a legal question - but if it was paid at a later date then it would be an expense at the time the liability was paid. If you mean to ask - what happens if an accrued liability for salaries is not paid, or is not timely paid - then the IRS can deny the deduction.
What is an accured liability?
A liability that arises because an expense happens in a time span former to the associated money payment.
What happens when your car runs out of miles?
Then you fail
What is a liability account?
Liability Accounts record obligations of a business towards its creditors. Examples of liability accounts are Accounts Payable, Interest Payable, Wages Payable. These accounts appear on the balance sheet.
