politics
Is unearned fees a debit or credit?
Unearned revenue is a liability for the recipient of the payment, so the initial entry is a debit to the cash account and a credit to the unearned revenue...
Jan 01, 2026 0 views
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Where does Accumulated depreciation Go on financial statements?
The accumulated depreciation lies right underneath the “property, plant and equipment” account in a statement of financial position, also known as a balan...
Jan 01, 2026 0 views
politics
Is retained earnings a fixed asset?
No, retained earnings is not a current asset for accounting purposes. Retained earnings is recorded in the shareholder equity section of the balance sheet...
Jan 01, 2026 0 views
politics
How does one determine if the accounting equation is in balance?
If a company keeps accurate records using the double-entry system, the accounting equation will always be “in balance,” meaning the left side of the equat...
Jan 01, 2026 0 views
politics
What are shut down costs?
Shut-Down Price The price of a product below which it is cheaper for a company not to make the product than to continue to sell it. That is, the shut-down...
Jan 01, 2026 0 views
politics
What is considered a current asset?
Current assets are all the assets of a company that are expected to be sold or used as a result of standard business operations over the next year. Curren...
Jan 01, 2026 0 views
politics
What is the journal entry for deferred revenue expenditure?
You need to make a deferred revenue journal entry. When you receive the money, you will debit it to your cash account because the amount of cash your busi...
Jan 01, 2026 0 views
politics
What is the meaning of non trading concern?
Definition and Explanation of Nontrading Concerns: Individuals or institutions with activities other than trade are known as non-trading concerns. Example...
Jan 01, 2026 0 views
politics
Where does amortization go on the balance sheet?
Accumulated amortization is recorded on the balance sheet as a contra asset account, so it is positioned below the unamortized intangible assets line item...
Jan 01, 2026 0 views
politics
What does depreciation is not valuation mean?
Depreciation is not valuation means that the book value of an asset (cost-accumulated depreciation) is not necessarily any indication of the market value ...
Dec 31, 2025 0 views
politics
What are the non current assets list?
Examples of noncurrent assets are: Cash surrender value of life insurance. Long-term investments. Intangible fixed assets (such as patents) Tangible fixed...
Dec 31, 2025 0 views
politics
What financial statement does Additional paid in capital appear on?
shareholders’ equity Additional paid-in capital refers to only the amount in excess of a stock’s par value. Paid-in capital is reported in the shareholder...
Dec 31, 2025 0 views
