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What else can I help you with?
Does the amortized amount of prepaid expense goes on income statement?
YES
Can you provide an example of an amortized loan?
An example of an amortized loan is a mortgage. In a mortgage, the borrower makes regular payments that include both principal and interest over a set period of time until the loan is fully paid off.
Which amortization method should be used for intangibles that are amortized?
The straight-line amortization method is typically used for intangible assets that are amortized, as it allocates an equal expense amount over the asset's useful life. This method simplifies accounting and provides a consistent expense recognition pattern. However, if the intangible asset has a variable pattern of economic benefits, the units-of-production method could also be considered. Ultimately, the choice of method should align with the asset's usage and economic benefits.
What is an example of a variable expense?
Any expense which is varying with levels of production is a variable expense. For example, with more production, expenses on raw materials will also increase. Consumption of raw material , thus , is a variable expense.
What is example of a variable expense?
Any expense which is varying with levels of production is a variable expense. For example, with more production, expenses on raw materials will also increase. Consumption of raw material , thus , is a variable expense.
Types of assets that are amortized?
Intangible assets are those assets which are amortized as compared to tangible assets which are depreciated.
What can be amortized on the balance sheet?
Intangible assets are amortized on balance sheet same as tangible assets are depreciated.
How you can deal with organization costs in the financial statements?
Organization costs are capitalized under Other Assets (non-current) and amortized (written off to an expense account) over a period of time, usually 60 months.
Which of these is an example of a variable expense?
Utilities
What is the possessive noun for computers?
The possessive form of the plural noun computers is computers'.Example: The computers' cost will be amortized over two years.
A bill received from a supplier is an example of?
An expense
What is an example of a flexible expense?
New clothing
