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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
Does rent expense go under selling or general and administrative expenses?
administrative expenses;
What is occupancy expense?
Occupancy expense. Expense relating to the use of property. Examples: rent, heat, light, depreciation, upkeep, and general care of premises occupied.
Is store supplies expense a selling or general and administrative expense?
It is a selling expense to be accounted for on the Income Statement under Selling Expenses.
Where does utilities expense appear on the financial statement?
It typically falls on the income statement under general and administrative expenses.
What is General and Administrative expense?
General and administrative expenses are those expenses which requires to run day to day business activities no matter if there is production going on or not.
Which type of expense is a bank charge for credit card fees Administrative or General?
Sales
What is the most common base for calculating general and administrative overhead rate?
total G & A expense
Is professional fee expense an administrative expense or a selling expense?
Expenses which are incurred for the selling of product is called Selling Expenses while expenses incurred on administration of general day to day tasks are called administration expenses
Is salary an administrative expense?
"If selling personnals have received the salary then it is selling expense but generally it is considered as administration expense." Nonprofits are often concerned with distinguishing between program (direct) and administrative (indirect) expense. In general, salaries of program staff are considered a direct expense of that program. Salaries for administrative staff who don't have direct service functions are considered indirect. Some administrative staff may also do direct service and in that case, their salaries may be divided based on the proportion of direct and indirect work they complete.
What is general expenses and whether it is asset or liability?
Answer:The income statements shows the breakdown of the expenses. The various main expense items of operating income are: cost of revenues/goods sold, R&D expenses, sales and marketing expenses. All other expenses are general expenses (administrative, overhead, etc). General expenses, just like any other expenses, are neither an asset, nor a liability.General expenses can be the result of a decline in the value of an asset (payment of cash, depreciation of value of an asset), or an increase in a liability (electricity bills payable, etc).
What is the double effect of depreciation?
When allocating depreciation, the two accounts affected will be an expense account - depreciation and a negative asset/contra-asset - accumulated depreciation. The journal entry would be: Dr Depreciation xxxx Cr Accumulated Depreciation xxxx This effectively raises the expense and decreases your asset. In the general ledger the depreciation account will be debited and the accumulated depreciation will be credited.
