Bookkeeping

Wages payable: A current asset CA B. non-current asset NCA. C. current liability CL. D. non-current liability NCL E. shareholders’ equity SE F. revenue R G. expense E

Content Common Terms Wage Expense on the Income Statement What can count as a business expense? Is salaries and wages payable an asset or liability? Effects of Theft on the Accounting Equation What comes out of retained earnings? Salary expense is the wage that an employee earned during the period, irrespective of whether it is

Wages payable: A current asset CA B. non-current asset NCA. C. current liability CL. D. non-current liability NCL E. shareholders’ equity SE F. revenue R G. expense E Read More »

Cash Basis Accounting vs Accrual Basis Accounting

Contents: Why Conflict Resolution Is Important for Your Business What’s the Difference Between Cash Basis and Accrual Basis? Cash vs Accrual Accounting: What’s The Difference? AccountingTools Accrual Basis Method of Accounting Cash basis accounting is less accurate than accrual accounting in the short term. Accrual accounting is an accounting method that records revenues and expenses

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