Is expenses owing is an asset or a liability?
Here are 16 best answers to ‘Is expenses owing is an asset or a liability?’ - the most relevant comments and solutions are submitted by users of Wiki.answers.com, ChaCha and Yahoo! Answers.
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Best solution
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What is general expenses and whether it is asset or liability?
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Answer: The income statements shows the breakdown of the expenses. The various main expense items of...
Other solutions
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Is interest expenses an asset or a liability?
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In accounting, interest and other expenses are neither; they are a contra-equity account. This means...
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Is expenses owing a current liability or a current asset?
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expense owing is a current asset
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Are advertising expenses is considered an asset or liability?
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it is an asset Alternate answerAdvertising expenses enhance the brand name of a company. The market...
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Are prepaid expenses an asset liability or equity?
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NO! Prepaid expenses are assets!!
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Are wages expenses an asset or liability?
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Neither, it is an expense, a negative entry in the company´s Profit and Loss, thus decreasing...
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Is interest expenses an asset or a liability?
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In accounting, interest and other expenses are neither; they are a contra-equity account. This means...
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Answer:
Assets dont decrease or increase a liability, unless you use an asset to pay a liability which would...
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Where in Chart of Accounts do you enter Prelinimary expenses ie liability asset etc?
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In accounting assets go under the Asset column, but the expenses to own and maintain them, if any, go under the Liabilities column of a balance sheet. Therefore, although not regarded academically and traditionally as both assets AND liabilities, why...
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Yes, but that is not philosophical, that is financial. If an item has more liability than asset, it...