Interested to Buy Any Domain ? << Click Here >> for more details...
What do you mean by Accrued Expenses ?
- 11 Answers
- 20280 Views
- Direct Shipping Services, IBM, I also Faced
- E-Mail Answers
Answer Posted / ruchi
Accrued expenses are those expenses actually incurred but,
yet to be paid for by the business. They are also provided
for and adjusted in the financial statement.
Accrued expenses or liabilities are shown under the current
liabilities in the balance sheet. To record accrued
expenses, a company debits (increases) an expense account
and credits (increases) a liability account. These
adjusting journal entries recognize expenses incurred but
not yet paid (i.e. obligation or liability). If the company
does not make such an adjusting entry, expenses (in the
income statement) as well as current liabilities (in the
balance sheet) will be understated, while equity will be
overstated, as the result.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
Is WCT paid to be considered as overhead during costing in construction firm?
genpact uk based shift timings? and R2R job profile?
Received credit note for Rs 3500 towards transport charges on the goods supplied from Vinod traders. The transport charges were already paid at the time of delivery. Pass entries at the time of payment of transport and for credit note
what is the use of accounting standards
I want to know that if i get call from Mumbai Circle in SBI. what does it mean where will be my posting and my job profile, will i get accomodation from bank or not.
In sales what rule applicable
deffered tax treatment in financial statements
what is Tds %,Service tax %,Cess %,and ESI,PF %,and what is the use of this.
Where to enter bonus and pf esi in tally pls help for me
drawings by making a DD from bank ( suppose payable towards UIT ) and on cancellation on such DD what journal entry needs to be passed ?
joint venture?
hi this is sharath,from hassan ,karnataka.,., i am caled for t interv on 28th may 2009, 12 noon, at foll location.,. STATE BANK OF MYSORE STAFF TRAINING CENTRE 104/105 7TH MAIN ROAD JAYALAKSHMIPURAM MYSORE-570012. anybody who is also attendin the same interview please reply me .,.,. i am in my final yr BE EnC,MCE hassan, i wold like to know more about the interview .,., please do reply.,.,. yours friendly, sharath kumar, sharath.syss@gmail.com
1. Cold Ice, Inc. sells ice cream sells for $2 each. The variable costs per ice cream are $1 and the fixed overheard costs are $ 0.35. A summer camp wants to place a one-time order for 100 cone of ice cream at a price of $ 1.25 each. What is the minimum price hot dogs should be charge for this special order?
Explain Cash Basis of accounting
what is similarites between tata motors and airtel
