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Q. Define Operating expenses?
Operating expenses for a merchandising company are those expenses other than cost of goods sold incurred in the usual business functions of a company. Typically operating expenses are either selling expenses or else administrative expenses. Selling expenses are expenses a company acquire in selling and marketing efforts. Instance include salaries and commissions of salespersons expenses for salespersons' travel delivery advertising rent (or depreciation if owned) as well as utilities on a sales building sales supplies used as well as depreciation on delivery trucks used in sales. Administrative expenses are expenses a company acquires in the overall management of a business. Examples comprise administrative salaries rent or depreciation if owned as well as utilities on an administrative building insurance expense and administrative supplies used and depreciation on office equipment.
Certain operating expenses perhaps shared by the selling and administrative functions. For instance a company might incur rent or taxes and insurance on a building for both sales and administrative purposes. Expenses covering both the selling as well as administrative functions should be analyzed and prorated between the two functions on the income statement. For instance if USD 1000 of depreciation expense relates 60 percent to selling as well as 40 percent to administrative based on the square footage or number of employees the income statement would show USD 600 as a selling expense and USD 400 as an administrative expense.
The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye
Some companies announce pro forma earnings and then disclose real earnings measured under US Generally Accepted Accounting Principles (GAAP) in their quarterly financial reports.
My company has done a down payment on inventory ,then manufacturer will ship this order between 30 to 60 days after original payment and the balance is due 60 days once the order g
where dose inventory changes aper on the balance sheet
Present value -- a notion that compares the value of money available in the future with thevalue of money in hand today. For instance $78.35 invested today in a 5% savings accountw
The Olympic Company has an accounts receivable balance at December 31, 2010 of $159,548.00. The existing balance in the Allowance for Uncollectible Accounts was a credit of $2,563
Q. Example of perpetual inventory procedure? The Perpetual inventory procedure Companies use perpetual inventory procedure in a range of business settings. In the past companie
Q. Gain and loss recognition principle? The gain and loss recognition principle states that we record gains merely when realized but losses when they first become evident. Ther
what are the levels of accounting theory
what all things do we have to treat in revaluation account
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