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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.
journal entries and how to calculate entries 1. Braves estimates bad debt expense at 2% of net sales 2. At 12/31/11, 6 months of rent remains on the storage facility Braves lease
Houston Corporation has the following stock outstanding: In 2012, Houston paid $330,000 in dividends. No dividends were paid in 2011 or 2010. Required : a)
You have been asked to ready a bill for services. What information should be contained in the bill? Ans) Service Provider's Details (i.e) Organization name and address. Ser
One of the companies for which you provide accounting services offers office cleaning services and has 8 customers. Cleaning services are provided in the evenings, Sunday throu
Q. Underlying assumptions or concepts of accounting? The major underlying assumptions or concepts of accounting are (a) business entity (b) going concern (continuity) (c) money
RATIO ANALYSIS
what is the exact meaning of journal that we doing entries??
Accounting is a significant service activity in business and is concerned along with collecting, evaluating, communicating and recording the results of past events. The history of
An airfoil of surface area 1ft squared is tested for lift (L) in a wind tunnel. At an angle of attack of 5 degrees with standard air of density 0.0024 slugs/ft cube at a speed of 1
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