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An accrual.
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Incurred Expenses also sometimes known as Accrued Expenses are expenses that a company incurs but has not yet paid. Unless the company in question uses Cash Basis Accounting, the transaction should be recorded immediately as a debit to the appropriate expense account and a credit to the appropriate payable account.
It is an "unrecognized" expense until it is recorded, not necessarily paid.
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The quick answer is an average $1,446,009. Senators earn $174,000/yr. Each has what is called a Members' Representational Allowance (MRA). The determination on how much each member recieves is dependant on 3 factors (such as distance to member's district) but the range is $1,356,975 being the lowest, and $1,671,596. Information obtained from senate.gov.
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selling expense
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Monetary expense is basically a cash-money expense, so a non-monetary expense is an expense that isn't money. Some examples would be physical or personal expense.
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Should restructuring charges be classified as an operating expense or as a nonoperating expense?
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it is because,we just doing a early payment for the future expense
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Depreciation expense is neither an asset or liability. It is an expense.
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A fixed expense is an expense that doesn't change, regardless of the activity level. For most companies, rent expense is fixed. No matter what the company's sales volume, rent expense stays the same.
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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
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Depreciation expense can be allocated to Administrative Expense or Selling & Marketing Expense or even to Cost Of Goods Sold. The amount of allocation and how that is done is specific to the type of business or industry.
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A payroll expense is an expense for an employee of a business. It is what is used to pay the workers in a company or organization.
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Payroll expense is a nominal account and as it is expense account so like all expense accounts it also have debit account.
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Insurance is an administrative expense as administration is authorized to do all these kind of expenses.
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Rent expense is a Revenue expense and not a capital expense. It is a revenue expense because it recurs from year to year and is not an expense in purchasing a fixed asset. It is classified as a revenue expense also because it features in the income statement of each year and following the principle of accruals, the accountant must, make the necessary end of period adjustments to make sure that the the amount of rent expense that should have paid is charged against revenue and not just the actual cash paid.
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I believe that Outstanding expense is an expense that has actually occured but not paid, but accrued expense is an expense which has been paid or may not be paid but the expense has not yet been accounted in books of accounts and hence, it is an estimated expense or an expense which is not yet been booked in our books and hence, we accrue the estimated expense in our books or we book the sum of actual expense and book it as an accrual for this period as there might be a case where the books have been closed for accounts payable but the books are still open for general ledger team to account the sum as an expense in the current period. The accrual will be normally reversed in the subsequent month and actual expenses will be booked. But in case of seasonal accounting the accruals are booked as a non-reversing entry in books and when the actual expense is known, the expense is booked and the accrual entry for the same will be reversed.
Rajesh Rajagopalan
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