7. Which expenses are not associated with renting accommodations. a. rent; utilities; groceries rent deposit: insurance; television c. rent; utilities; cable d. mortgage; utilities; telephone

Q: The cost of insurance and tax is included in which of the following costs? a. Inventory carrying…

A: Economic value added (EVA). Economic value added is a type of residual income that is calculated by…

Q: Define Prepaid rent.

A: Prepaid Expense:   It refers to the expenditure incurred by company that is paid in one accounting…

Q: What is rent receivables listed as

A: rent is made by the tenant to the owner. different is paid generally on the monthly basis but there…

Q: 7 What are utilities, property taxes, and insurance all examples of? A O Contract contingencies. BO…

A: We first needs to understand all the terms given in the question to answer the question. Contract…

Q: variables cost

A: Variable cost is the cost that change according to sale or production volume.

Q: Which of the following is most likely to be reported as an accrued liability? Multiple Choice…

A: Accrued liability is a sort of obligation of an entity that the entity has not paid yet. In other…

Q: Which of the following represents amounts owed for goods, supplies, or services purchased? Group of…

A: The question is asking to identify the term that represents the amounts that a company owes for…

Q: why home ownership expenses can be itemized but expenses for renters cannot?

A: There are expenses which have been allowed by the tax authority over which the taxpayer can claim as…

Q: How to calculate Rent income from income statement

A: Income Statement- It is a report that shows an organization's revenues, expenses, and net profit and…

Q: What is accured expenses with example

A: Definition: Expenses: Expenses are costs incurred for the operations of a business. The costs…

Q: What is supposed to be credited in utilities expense

A: Solution Concept When an expense has been incurred but not paid ,such expense needs to be recorded…

Q: Outstanding rent is Select one: a. Long term liability O b. A revenue C. A current liability O d. A…

A: Outstanding rent come under the head of Current Liability within the record. Outstanding rent are…

Q: What is rental income? Also, what are rental-related expenses? Give me some examples as well

A: Revenue Recognition means the recording of revenues of an entity in its books. It is an accrual…

Q: Which of the following items represents a deferral?A. Prepaid insuranceB. Wages payableC. Fees…

A: In accounting, deferral means to defer or delay recognizing certain revenues or expenses…

Q: The company selling the insurance policy is the _________________. a. Insurer b. Policy c. Premium…

A: Insurance is a means of protection from financial loss.

Q: What are some categories of vacation home rentals in accounting? And, please describe some rules for…

A: When it comes to accounting for vacation home rentals, you generally categorize them under…

Q: Select a common type of debt instrument used for housing loan from the following. a. None b.…

A: Housing loans are very common types of loans in which house become collateral till loan is paid.

Q: What is accrued rent?

A: The accrual basis of accounting is the accounting done for the transaction even if the cash inflow…

Q: O Liability Insurance Expense.

A: Sud account is smaller account under a larger account . It is uesful to track different activites…

Q: The practice of recording advance payments from customers as a liability is an example of applying…

A: Under the Cash Basis of Accounting, revenue is considered only when the actual amount is received…

Q: Which of the following is not an example of an asset? 
   Group of answer choices Supplies. Accounts…

A: Supplies are the current assets which represent the cost of supplies on hand. Account receivable are…

Q: Explain with examples the following: (a) Residence rule (b) Source rule (c) Relief for medical…

A: (a) Residence rule  Post-marital residence rules specify where a person resides after marriage and,…

Q: What are sundry expenses?

A: Sometimes in business operation, a small number of various expenses are incurred and for each such…

Q: he consideration paid by insured in a contract of in - premium C. prepaid insurance insurance…

A: The insurance companies do different kind of insurance for the companies depending on the risk and…

Q: why loan officer prefer accrual basis accounting

A: The financial statement of a firm can be prepared based on accrual basis of accounting or cash basis…

Q: What are pre-paid expenses

A: Introduction:- A prepaid expense is an asset. Which are are paid in advance.

Q: Does Rent Revenue go under sales or under other income and expenses?

A: Income statement:   In this statement the financial records of the company's monetary performance is…

Q: Should liability for rent deposit be amortized? Why or why not?

A: The assets are amortized as they provide benefits for the long period.

Q: When to recognize expenses?

A: Under the accrual basis of accounting, revenue is considered to have been earned when goods are sold…

Q: When we get the expense bill, would we credit A/P or Utilities payable?

A: Journal: Recording of a business transactions in a chronological order.