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What is nature of outstanding expense?
see outstanding expenses r those expenses that runpaid at the end of accounting period like salaries,rent so they all come under nominal accounts which is "debit all expenses and losses and credit all gains". since they r unpaid hence they must be credited....
Where does petrol expenses come in profit and lost account?
Petrol expenses are recorded in the profit and loss account under the category of operating expenses or cost of goods sold (COGS), depending on their nature. If petrol is used directly in the production of goods, it may be classified under COGS. Otherwise, it is typically listed as a selling, general, and administrative expense (SG&A). Proper categorization helps in accurately assessing the company's profitability.
What things come under nominal account?
All the expenses and incomes are recorded in nominal accounts, whether capital or revnue nature
What are the differences between dividend and expense accounts?
Dividend account is the account used to record money paid on stock such as common stock, this comes out of retained earnings. Expense accounts are expenses that the company has to maintain operation and come out of Revenue, before dividends are calculated. A company may choose to not pay dividends on stock for a year (or so) if the company's retained earnings do not meat a certain amount.
Does Sales promotion expenses come in income statement?
All expenses comes in income statements same as sales promotion expenses are also shown in income statement.
What all expenses will come under staff welfare expenses?
head of staffwelfare
What is nature of outstanding expense?
see outstanding expenses r those expenses that runpaid at the end of accounting period like salaries,rent so they all come under nominal accounts which is "debit all expenses and losses and credit all gains". since they r unpaid hence they must be credited....
Where does petrol expenses come in profit and lost account?
Petrol expenses are recorded in the profit and loss account under the category of operating expenses or cost of goods sold (COGS), depending on their nature. If petrol is used directly in the production of goods, it may be classified under COGS. Otherwise, it is typically listed as a selling, general, and administrative expense (SG&A). Proper categorization helps in accurately assessing the company's profitability.
Does customs duty come under direct expense?
I was look for the answer to this very same question! And I found it: "Customs duty comes in two types: Import Duty & Export Duty. Duty paid on goods imported from Abroad is known as Import Duty and is debited to the Trading A/c but Duty paid on goods exported expense connected with sales, is debited to profit and loss account, so import duty on goods purchased from abroad is a direct expense and export duty on goods sold is indirect expense."
What does the word the come under?
'the' is a Direct, or Specific, Article
Provision is an asset or a liability?
yes its come under Assets Account.if you are make provision for Expenses which may occurred in next few month (less than 12 month) the provision account come under Current Assets. (Just like Prepaid expenses)
What come under administration expenses in financial statements?
All administration related items included in it like administration staff salaries and other day to day expenses.
What are the expenses that come in indirect expenses?
The expenses those come in the debit side of the Profit & Loss Account of the Company are all indirect expenses.
Is it an offence under section 498-A of IPC when a person demands additional dowry for his medical expenses?
No. It is not an offence. Dowry means to live a luxirious life. Medical expenses do not come within luxirious life.
What things come under nominal account?
All the expenses and incomes are recorded in nominal accounts, whether capital or revnue nature
How did totalitarianism come from the expense of others?
A totalitarian regime is established at the expense of individual rights and liberties.
Petty cash account details?
when we use laundry and cleaning expenses,meals and entertainment expenses,office expenses,pantry items expenses,travelling expenses etc.. what are the expenses will come each cotogories
