Accrued liabilities, Cost Accounting

Accrued liabilities show expenses or obligations incurred in the earlier accounting period but the payment for similar will be made in the subsequent period. In several cases where payments are made periodically, as wages, rent and the same items, the last month's payment may appear as accrued liabilities as particularly if the practice is to pay similar on the first working day of a month. Such obligation demonstrated on the balance sheet shows that the firm owed the said amount in the balance sheet date.

Posted Date: 4/4/2013 1:45:37 AM | Location : United States







Related Discussions:- Accrued liabilities, Assignment Help, Ask Question on Accrued liabilities, Get Answer, Expert's Help, Accrued liabilities Discussions

Write discussion on Accrued liabilities
Your posts are moderated
Related Questions
(a) Describe briefly how the following are used in the accounting for labour: (i)   time sheets (ii)   job cards. (b) The following details relate to the labour in a produ

Example of Over and under absorption of production overhead costs By employing data from diagram assume such the production overhead absorption rate was computed where an acti

How would I calculate the debt amortization for a bond issued at discount with a maturity of 12 years, market interest rate at issue 10% annually, 5% semi annually, and has a state

#question techniques of payment under group bonus plan .

DEF Municipality uses a standard absorption costing system to control the cost of one of its services, namely the supply of water to its constituents. The fixed budget for the reti

Interstate Manufacturing produces brass fasteners and incurred the following costs for the year just ended: Materials and supplies used Brass $75,000 Repair parts 16,000

The profit volume ratio of xltd. is 50% and the margin of safety is 40%.you are required to calculate the net profit if sales volume is rs.100,000?

Allie forms Broadbill Corporation by transferring land (basis of $125,000, fair market value of $775,000), which is subject to a mortgage of $375,000. One month prior to incorporat

Bases of Cost Classification These various bases of cost classification are summarized in the diagram underneath as: Here, we will usually refer to either of these ter

Elements of Manufacturing costs Manufacturing costs are the costs incurred to create a product. Keep in mind for a product that refers to both services and goods. The ele