Accounting

Is prepaid insurance an asset? Due to the various risks associated with owning valuable items such as buildings, vehicles, machinery,

The amount that is left after a business has paid all expenses, is known as profit. There are factors that

The different types of profitability ratios are helpful as they help a business or a company assess its financial performance

There are several financial metrics that investors and analysts use to evaluate the financial health of a company. The profit

The credit sales journal entry is an entry in a company’s sales journal which is used to record the sale

Companies generally operate to meet a need and make a profit in the process. In order for either of these

Is investment debit or credit? Individuals and businesses make investments with the hope of earning income in the future. These

A consolidated statement of financial position balance sheet presents the combined balance sheet of a holding or parent company and

What is the deferred revenue journal entry? Deferred revenue is recorded in the books, under accrual accounting, when a company

In accounting, losses are recorded and shown in one of two financial reports, depending on the type of loss. The

What type of account is prepaid rent? You can make an advance payment for goods or services such as rent

Merchandise inventory is what type of account? Merchandise inventory on the balance sheet includes all goods in stock (finished goods

Is accumulated depreciation an expense? Every company or business make use of fixed assets such as plants, machinery, motor vehicle,

Is utilities payable debit or credit? Utilities payable is a current liability account that records the amount a company owes

Is accumulated depreciation a current asset? Accumulated depreciation is a record of all the depreciation expense of an asset since

Is sales discount an expense? Trade discounts and sales discounts are the two main types of discounts in accounting that

Is goodwill debit or credit? Goodwill is a kind of intangible asset that may arise when a company buys another

Is notes payable asset or liability? In business, a party may purchase a piece of equipment on credit or borrow

Is accumulated depreciation a fixed asset? When companies purchase assets, they try to estimate how long they will be able

Is capital stock a debit or credit? Capital stock refers to the maximum number of shares that could be issued