Ask Experts Questions for FREE Help !
Ask
    pesimpson's Avatar
    pesimpson Posts: 8, Reputation: 1
    New Member
     
    #1

    Sep 9, 2013, 11:52 AM
    Accounting question
    Cost of good sold is a debt to liability, revenue, or expense?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
     
    #2

    Sep 9, 2013, 02:31 PM
    Cost of Goods Sold is an expense account.

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounting question?. help please. [ 0 Answers ]

***I've figured out how to do everything else expect for the 2013 section. I thought it would be Preferred 47,200 and Common 30,000 but I tried it and it was wrong so can someone please explain to me how to the 2013 section? Thanks*** Dividends on common and cumulative preferred stock L.O. C2...

Accounting question [ 0 Answers ]

Class Assignment: For the worksheet I was able to do the first one, but for the next month my balancing is off. I want to know for capital, do I just bring up the balance for this just I would for all of the others (cash, a/p, a/r) or do I need to take this total off another sheet.

Accounting question [ 1 Answers ]

At the beginning of the year, Morgan Company had total assets of $450,000 and total liabilities of $280,000. If, during the year, total assets decreased by $65,000 and total stockholders' equity increased by $45,000, what is the amount of total liabilities at the end of the year? How do I...

Accounting Question (please help) [ 3 Answers ]

The following details relate to a shop owned by Joan Socks, which currently sells 12,000 Pairs of shoes annually. Selling price per pair of shoes $80 Purchase cost per pair of shoes $50 Total annual fixed costs: $ Salaries 80,000

Accounting question [ 2 Answers ]

Another question not directly answered by my book... Settled a product liability lawsuite with a customer for $68,000 payable in January. Emerald Company accruded the loss in a litigation claims payable account. How do I journalize this?


View more questions Search