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What is the difference between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
What is the different between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
Is inventory an example of expired cost?
yes
What is the difference between cost and expense?
The difference between a cost and an expense lies on the matter of distinguishing and separately recognizing the used, utilized and expired portion of the cost, being that part is what we called an expense. An expense can also be described as a cost forgone since it is already been utilized and used. The expense is also recognized only in the income statement rather than in the balance sheet since utilization is recognized for a certain period of time. On the other hand, an unused or an unexpired cost is reported in the balance sheet as at a certain point of time. A costmight be an expense or it might be an asset. An expense is a cost that has expired or was necessary in order to earn revenues.
What is the meaning of entries to apportion recorded cost?
Apportioning cost means dividing cost between Expired cost (depreciated value) and Unexpired cost (not depreciated yet). Cost which is used or whose time period is over is expired cost which can also be called as expense now, while unexpired cost can be named as remaining book value. For example, Prepaid rent was paid in September for the coming 4 months was $4000. Now, at the end of September the expired cost will be $1000 (and will be recorded in income statement as expense) and Unexpired cost will be $3000 (& will be recorded in Balance sheet as an asset ). Entry at the start of September would bePrepaid Rent a/c $4000 (Dr)Cash a/c $4000 (Cr) Entry at the end of September would be Rent a/c $1000 (Dr)Prepaid Rent a/c $1000 (Cr)See here, the used up cost or you may say asset has been turned into an expense, mitigating the value of Prepaid rent with $1000. Suppose you are preparing Balance Bheet at the end of September, the $1000 will be recorded in Income Statement as an expense while the Remaining $3000 will be recorded as current asset in Balance Sheet.
What is the difference between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
What is the different between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
Is inventory an example of expired cost?
yes
What is the ticket cost for expired tags in ct?
$158
How much is expired inspection sticker in Texas?
The ticket for an expired inspection sticker is $152, the cost to get it renewed is $14.50.
What is an example of expired cost?
An example of an expired cost is a prepaid insurance premium. When a company pays for insurance coverage in advance, that payment is recorded as an asset. As time passes and the insurance coverage is used, the cost becomes an expired cost, gradually being recognized as an expense on the income statement, reflecting the consumption of the service over time.
What is the fee related to a patent expired?
The fee related to an expired patent is the cost to renew or reinstate the patent after its expiration date has passed.
How much does an expired tag ticket cost in Muskogee Oklahoma?
$35
What is the fine for an expired tag in Colorado?
When a ticket is issued, the cost of ticket is printed on the left side of the back of the speeding ticket. Normally, the cost of ticket is about 180 dollars for expired tags in Colorado.
How much does it cost to renew an expired license?
The cost to renew an expired license varies depending on the type of license and the state or country where it was issued. It is recommended to check with the appropriate licensing agency for specific renewal fees.
What should you do if the carlot sold you a car with expired inspection sticker?
If you bought a car with expired inspection for the state you live in, take it back to the lot immediately. It is illegal for them to sell a vehicle with expired inspection that is for road use. They will have to have it inspected, probably at your cost.
How much is the late fee for a expired tag in Alabama?
My tag expired last month and I don't get paid until the 15th of this month. How much is it going to cost me since it's late?And my license expired last month too so how much would that be?
