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Prepaid insurance is a asset account with a debit balance. When that months prepaid I
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Wrote off prepaid rent and prepaid rent account
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Accounting treatment of Purchase and taxes etc.
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Hi, I purchase material worth 10000. Purchase Bill includes 1000 for excise + 1000 for sales tax and 1000 for octroie. Together, I got purchase bill of 13000/-. What entry is required to be made ? How I will get credit for these credit and what entry is required to take that credit ? ...
Prepaid expenses and Taxes
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How would prepaid expenses be accounted for in determining taxes and accounting for the deferred tax provision. For example, assuming rental payments are prepaid at the beginning of the year and are not yet expensed by the time taxes are accounted for- would these prepayments be taken as...
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Ben Lieber is a waiter at the Harbor House, where he receives a weekly wage of $80.00 plus tips for 40 hour workweek. Lieber's weekly tips usually range from $180 to $200. A) Under the fair labor standards act, the minimum amount of wages that Lieber must receive for a 40 hour workweek is My... View more questions Search
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