Outstanding expenses
WebAnswer / ullash swain. Outstanding- The exepenses which is due but not paid is called outstanding expenses. For example- Electricity bill cycle date is 15 th march to 14 th April.So vendor would issue invoice after 14th April because electricity consumption on 14 th April would be include.In this case if payment not happened till 14 the April , we can treat it as … WebOutstanding Expenses. Sometimes in the normal course of business, an enterprise may have some expenses relating to which the payment is due at the end of the year.We know …
Outstanding expenses
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WebOutstanding Expenses are the expenses that are due but not yet paid due to any reason. The customers already consume the service but not yet paid to the supplier. The risk and … WebJul 4, 2024 · Outstanding Expense. Outstanding is also called due, payable, accrued, owing expenses or to be paid. These expenses are incurred in the business but not yet paid. These are to be considered as expenses. Some examples are outstanding salary, outstanding interest, outstanding rent, outstanding wages etc. It is debited in profit and loss account ...
WebSep 23, 2024 · Expense: An expense consists of the economic costs a business incurs through its operations to earn revenue . Businesses are allowed to write off tax-deductible … WebMar 13, 2024 · Prepaid Expenses Example. We will look at two examples of prepaid expenses: Example #1. Company A signs a one-year lease on a warehouse for $10,000 a …
WebA. Outstanding expenses. B. Share capital. C. Debentures. D. All of the above. Answer: Option C . Solution(By Examveda Team) Debentures is a long term liability. Long-term liabilities are financial obligations of a company that become due more than one year. WebNov 8, 2024 · Outstanding expenses are those expenses that have already been incurred but have not been paid yet. For accounting purposes, these expenses need to be charged against profit in the current year whether they are paid or not. Outstanding expense is a personal account and it will be shown as a liability in the Balance Sheet with a credit …
WebOutstanding Expenses are the expenses that are due but not yet paid due to any reason. The customers already consume the service but not yet paid to the supplier. The risk and reward of products are transferred to customers but payment not yet made. The company record expenses/assets and liabilities. It will remain outstanding on company ...
WebDec 17, 2024 · The major expenses are staff salary, rent, electricity, maintenance charges, cost of vegetables, fruits and groceries. The company policy is to pay the staff salary, … oakcroft meadowWebJun 29, 2024 · Prepaid expenses usually relate to the purchase of something, such as rent or insurance, that provides value to the business over several accounting periods (often six months or a year). The business records a prepaid expense as an asset on the balance sheet because it represents a future benefit due to the business. maid service pleasantonhttp://www.iimchyderabad.com/econtent/RATIO%20ANALYSIS%20SOLVED%20PROBLEMS.pdf maid service pearland txWebMCQs Chapter 1 Introduction to Accounting have been prepared by our team of best accountancy teachers. (a) Personal Account. (b) Real Account. (c) Nominal Account. (d) None of these. Question. Current Liabilities include: (a) record all business transactions. (b) interpret financial data. maid service plymouthWeb2 days ago · Outstanding Expense. Outstanding expense is the exact opposite of prepaid expenses, outstanding expense means an expense that is due i.e not yet paid. A company … maid service pembroke pinesWebMar 28, 2024 · Travelling expenses Outstanding expenses Accrued expenses Bad debt Loss on theft depriciation Coffee Expenses Coke Expenses Manager’s Commission UPTT Fuel Expenses A/c Liabilty of Expenses Preliminary Expenses A/c Professional Fees Indirect Income OR Income(Indirect) All ... oakcroft nursing home byfleetWebOutstanding expenses:- Outstanding expenses are those expenses which have been incurred during the current accounting period and are due to be paid, however, the payment is not made. Such an item is to be treated as a payable for the business. Examples – Outstanding salary, outstanding rent, outstanding subscription, outstanding wages, etc. maid service pompano beach