Which is not an expense account?

Which is not an expense account?

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Everything Small Businesses Need to Know about Business Expenses

According to, What is a business expense and how do you know if it’s deductible? The Ascent goes through the different ways to track your business expenses.

An expense account is the right to reimbursement of money spent by employees for work-related purposes. Some common expense accounts are: Cost of sales…

account on which the cheque is drawn, and a debit in a rent expense account. Similarly, the landlord would enter a credit in the rent income account associated…


According to, And, last but not least, creating an expense account is all part of managing your accounting books. List of expenses in accounting. You can create a separate expense sub-account for all the expenses you have, like rent and insurance payments. For a list of expenses in accounting, take a look at this expense account example:

According to, View full document. 4. Which of the following is not an expense account? a. salaries expense b. advertising expense c. taxes and licenses d. prepaid rent expense. 5. Which of the following does not belong to the group? a. owner, capital b. owner, drawing c. owner’s cash d. none of the above.

According to, This account is also closed to Cost of Sales at the end of the period. 2. Advertising Expense – costs of promoting the business such as those incurred in newspaper publications, television and radio broadcasts, billboards, flyers, etc. 3. Bank Service Charge – costs charged by banks for the use of their services. 4.

According to, An expense is a cost that has expired or been taken up by activities that help generate revenue. Revenue Revenue is the value of all sales of goods and services recognized by a company in a period. Revenue (also referred to as Sales or Income) . Therefore, all expenses are costs, but not all costs are expenses.

According to, ISBN-13: 9780078110979 ISBN: 0078110971 Authors: Donna Kay Rent | Buy. Alternate ISBN: 9780077499860. Alternate ISBN: 9780077499860. Computer Accounting With Quickbooks Pro 2011 (13th Edition) Edit edition Solutions for Chapter 2 Problem 3MCQ: Which account below is not an Expense account?A. UtilitiesB. RentC.

According to, Accounting questions and answers. Question 1.16 Which of the following is not an example of an expense account? 0 Wages expense O Advertising expense O Prepaid insurance expense Rent expense ☆ Question 1.17 Expenses are: O incurred only when cash is paid O increases to owners equity O costs incurred to generate revenues O recorded as credits …

According to, An expense account is the right to reimbursement of money spent by employees for work-related purposes. Some common expense accounts are: Cost of sales, utilities expense, discount allowed, cleaning expense, depreciation expense, delivery expense, income tax expense, insurance expense, interest expense, advertising expense, promotion expense, repairs expense, maintenance expense, rent expense …

According to, Businesses incur various types of expenses. An expense is a type of expenditure that flows through the income statement. Income Statement The Income Statement is one of a company’s core financial statements that shows their profit and loss over a period of time. The profit or. Net Income Net Income is a key line item, not only in the income …

According to, In this exercise, we are asked which among the following choices given is not an asset account. Step 2. 2 of 2. The answer here is d. None of the above is an asset because, Salary expense is an expense account. Service revenue is a revenue account. And the common stock is part of equity account.

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