[New post] [Answer] Which of the following is an asset account?a.Salaries expense b.Accounts payable c.Service expense d.Prepaid expense

answertrivia posted: " Answer: D. Prepaid Expense Which of the following is an asset account?a.Salaries expense b.Accounts payable c.Service expense d.Prepaid expense Bookkeeping for expenses. In double-entry bookkeeping expenses are recorded as a debit" Respond to this post by replying above this line New post on AnswerTrivia.com [Answer] Which of the following is an asset account?a.Salaries expense b.Accounts payable c.Service expense d.Prepaid expense by answertrivia Answer: D. Prepaid Expense Which of the following is an asset account?a.Salaries expense b.Accounts payable c.Service expense d.Prepaid expense Bookkeeping for expenses. In double-entry bookkeeping expenses are recorded as a debit to an expense account (an income statement account) and a credit to either an asset account or a liability account which are balance sheet accounts. An expense decreases assets or increases liabilities. Typical business expenses include salaries utilities depreciation of capital assets and interest ... Chart of accounts - Wikipedia Chart of accounts - Wikipedia Accounts receivable - Wikipedia Financial accounting - Wikipedia Debits and credits occur simultaneously in every financial transaction in double-entry bookkeeping. In the accounting equation Assets = Liabilities + Equity so if an asset account increases (a debit (left)) then either another asset account must decrease (a credit (right)) or a liability or equity account must increase (a credit (right)).In the extended equation revenues increase equity ... Capital expenditure or capital expense (capex or CAPEX) is the money an organization or corporate entity spends to buy maintain or improve its fixed assets such as buildings vehicles equipment or land. It is considered a capital expenditure when the asset is newly purchased or when money is used towards extending the useful life of an existing asset such as repairing the roof. The asset remains on the lessor's books as an owned asset and the lessor records depreciation expense over the life of the asset . If the rent changes over the life of the lease normally the rental income is recognized on a straight-line basis (also known as rent leveling) and the difference between income and cash received is recorded as a ... A chart of accounts (COA) is a list of financial accounts set up usually by an accountant for an organization and available for use by the bookkeeper for recording transactions in the organization's general ledger.Accounts may be added to the chart of acco... This free site is ad-supported. Learn more ​ answertrivia | 5th Apr 2021 at 9:40 am | Categories: Uncategorized | URL: https://wp.me/pcLptW-Ill Comment    See all comments Unsubscribe to no longer receive posts from AnswerTrivia.com. Change your email settings at Manage Subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://answertrivia.wordpress.com/2021/04/05/answer-which-of-the-following-is-an-asset-accounta-salaries-expense-b-accounts-payable-c-service-expense-d-prepaid-expense-14/ Thanks for flying with WordPress.com