0
What else can I help you with?
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
Does current portion of long term debt include interest?
No, only the principal to be paid during that year. Interest is separated and classified as Interest Expense.
Restructuring charges be classified as an operating expense or as a nonoperating expense?
Should restructuring charges be classified as an operating expense or as a nonoperating expense?
Which account is not classified as a selling expense Freight-Out or Sales Salaries or Advertising Expense or Sales Discounts?
Which account is not classified as a selling expense?
What journal entry accrues interest expense?
DR - Interest Expense CR - Interest Payable
Is interest expense a selling or general and administrative expense?
Interest expense is neither selling or administrative, and it's too significant to be called a general expense. Interest expense is usually called a finance expense and is usually listed separately from SG&A, on the Income Statement
Why salary should be classified as a selling expense?
only salaries of employees engaged in selling can be classified as selling expense..salary of salesperson,saleslady,salesman,sales supervisor are the examples that fall under selling expense..it is classified as selling expense, simply because the expense occurred in selling department.
Where does interest expense in the income statement?
Interest expense is shown at debit side of income statement because it is an expense for business.
What is discount allowed classified as in accounting?
It is classified as an expense to the trader.
What is the journal entry to record accrued interest expense?
Debit Accrued Interest Expense Credit Accrued Interest Payable
What is the debited classified accounts?
Expense
Unused fees on credit line should be operating expenses or interest expense?
Interest Expense
