Web60. The account type and normal balance of Prepaid Expense is [A] Revenue, credit. [B] Expense, debit. [C] Liability, credit. [D] Asset, debit. 61. Which of the following is an example of an accrued expense? [A] Salary owed but not yet paid. [B] Fees received but not yet earned. [C] Supplies on hand. [D] A two-year premium paid on a fire ...

Insurance Expense Debit Or Credit Normal Balance - My ...

Webassets, liabilities and prepaid expenses in the financial statements and the tax base. Deferred taxes are calculated on the basis of the current income tax rate of 32.1 % of SMT Scharf AG, Hamm and include trade tax and corporation tax. Any resulting tax burden would be recognised in the balance sheet as deferred tax liability. In the fiscal ... WebHá 1 dia · For the fiscal year ended January 31, 2024, ADF posted net income of $14.9 million (or $0.46 per share, basic and diluted) compared with a net income of $9.6 million (or $0.29 per share, basic and ... the ramp needham market

Prepaid Expenses: Definition, Examples & Recording Process

Web26 de jun. de 2016 · Normal Debit Balance Normal Credit Balance Assets Liabilities Equities Owner's capital Owner's withdrawals Revenues Expenses Cash Accounts / trade receivable Notes receivable Prepaid accounts Supplies / inventory / Stock Equipment Buildings / properties Land Accounts / trade payable Notes payable Accrued liabilities … WebThe normal balance side of REPAIRS EXPENSE. Debit. The increase side of CASH. Debit. The increase side of SUPPLIES. Debit. The increase side of PREPAID INSURANCE. Debit. The increase side of ACCOUNTS RECEIVABLE--SAM ERICKSON. Web10 de out. de 2024 · Prepaid expenses are the money set aside for goods or services before you receive delivery. Other current assets are cash and equivalents, accounts receivable, notes receivable, and inventory. What is the normal balance of prepaid insurance? 1. The type of account and normal balance of Prepaid Insurance is a. … signs he\u0027s ghosting you