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If the expense is some major type and may change the expected life of building than it should be debited to the cost of building and also must be capitalized other wise it should be treated normal nature expense and directly debited to profit and loss account. Kindly give your response as well. thanx, Mekhaile email: mekhaie1@Yahoo.com If the expense is some major type and may change the expected life of building than it should be debited to the cost of building and also must be capitalized other wise it should be treated normal nature expense and directly debited to profit and loss account. Kindly give your response as well. thanx, Mekhaile email: mekhaie1@yahoo.com
What else can I help you with?
A journal entry is necessary to move expense from project A to project B Which project should be debited?
Project B would debit expense to increase and project A would credit expense.
The entry to close the appropriate insurance account at the end of the accounting period is what?
Insurance account is expense account and expense account is closed in income summary account. Insurance account should be credited where as income summary account should be debited
Is depreciation of sales office equipment a selling expense?
The Sales Office is in charge of the selling of valuables of an entity. Thus, all expenses related to this office is debited to selling expenses. Furthermore, depreciation is a form of expense, and deserves a different account, but since it is related to the sales office, it is debited to selling expenses. Yes, it is a selling expense.
Why should depreciaon be treated as expense?
Depreciation should be treated as expense because the worth of the asset like machinery and building goes down as time goes by. This reduction in the amount cannot be collected by anyone and cannot be claimed. The company only has to bear this amount. Because of this depreciation is treated as an expense.
Is it better to build a new building or renovate an existing building?
It depends. If you can utilize the existing building with a moderate amount of renovation, then you should renovate. If the renovation is extensive it is often more economical to raze the building and start anew. But there are many considerations to take into account: the sentimental and/or historical value of the structure being one of them. Also, if you build new you can get exactly what you want, with the newest technology, building standards, and energy efficiency. Renovating will always require compromise in one or all of these categories.
Why Should I Hire a Local Contractor for Brooklyn's Home Renovation?
Local contractor for Brooklyn's home renovation ensures familiarity with local building codes, quick and convenient communication, personalized service, and a strong local reputation. They understand Brooklyn's climate, support the local economy, and can respond quickly to emergencies, providing a seamless renovation experience.
When should you have an asbestos survey done?
One should have an abestos survey done if their home was built before 1990 or if there is a demolition/major home renovation to take place. Absestos was previously used in home building materials, but its usage declined upon the discovery of potential health risks after prolonged exposure to the material.
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?
Is insurance an operating expense or general expense?
it depends on the type of insurance.. workers compensation insurance, health, dental, or vision are all payroll expense.. building insurance is an operating expense.. Payment of insurance premium should always be treated as general expense,to be shown in the debit side of the Profit & Loss A/c of a Company,whether it is payroll expense for its employees. While preparing individual Balance Sheet, payment of insurance premium where life, medical,home owner or else, should be shown as payment/expenditure and to claim benefits under Income Tax Act.
What is building renovations how do you do it?
Equinox Homes through its Building renovations Perth makes building structures overhauling for refurbishing their glamour. By means of our quality service of renovation and well schooled professionals having hands-on experience it turns outdated buildings into modernize ones. Regardless of the size or scope of project you might be considering, we want what is the best for you! We have the custom building skills to accommodate any type of building renovation work within any type of building renovation budget. Before starting with any project; at the outset, through our Building renovations Perth we get written-evaluation from our clients. Then we equip each client with a detailed description of the work he wants carried off and the materials he wants to be used so you are equipped to identify what you want in your building-renovation and how to calculate the cost of the project.A written estimate should include:A thorough account of the work that will be done.The type and quality of materials that will be used.The project commencement and completion dates.Itemized costs and the total price.A statement of any guarantees made by the contractor.The required mode of payment.
Is property and equipment credit or debit?
property and equipment should be debited if they increases because both are assets
Rs 1000 paid as rent to landlord should be debited to which A C?
Rent account or landlords account
