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A prepaid expense is simply an expense that is paid in advance of the service being used. Most cable companies, for example, charge you for the following moth's service, and if you terminate your service, they refund the unused portion of your payment.
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A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
What are the accounting journal entries to record a prepaid expense?
Dr. Prepaid expence (balance sheet) Cr. Expense (income statement) e.g. you have already paid $1200 insurance, but at year end still have six months to go until you have to renew your premium. You would have expensed the full $1200 - now you need to remove the unused (prepaid) portion. Dr. Prepaid expense $600 Cr. Insurance $600
List Prepaid expenses on balance sheet?
Prepaid Rent, Prepaid Insurance, and Prepaid Interest... maybe? Check it out on Investopedia.com
Is prepaid rent accrued?
Yes, prepaid rent is accrued.
Is freight on sales deducted from sales?
Type your answer here... No. Frieght is an expence and it is deducted from the profit derived from the sales
A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
What is an expence budget?
An expence budget is how much something costs
What are the accounting journal entries to record a prepaid expense?
Dr. Prepaid expence (balance sheet) Cr. Expense (income statement) e.g. you have already paid $1200 insurance, but at year end still have six months to go until you have to renew your premium. You would have expensed the full $1200 - now you need to remove the unused (prepaid) portion. Dr. Prepaid expense $600 Cr. Insurance $600
What are sundry expenses?
Any expence that does not fall into a specific category
How can you use the word expense in a sentence?
My expence is very high.
What is a fixed expence and give one example?
Insurance answer for A+LS
A symbiotic relationshipthat benefits one organisim at the expence of another?
Parasitism
What is the anuall fuel expence for a 2002 escalade?
how blue eyes works?
List Prepaid expenses on balance sheet?
Prepaid Rent, Prepaid Insurance, and Prepaid Interest... maybe? Check it out on Investopedia.com
What is the difference between freight prepaid abroad and freight prepaid?
what is the difference between freight prepaid and freight prepaid abroad
What part of speech is prepaid?
"prepaid" is an adjective.
verizon cheap prepaid and refillable cards and for my gusto prepaid and mobile phone?
verizon prepaid and cheap cards and for my mobile prepaid and gusto mobile phone
