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those expenses which have been paid in advance and whose benefit will be available in future are called unexpired or prepaid expenses. e.g. insurance premium
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What is unexpired interest?
an asset, which is debited!
What is zero sum game?
A situation where someone's gain comes at the expense of someone else.
Can you buy a Nintendo DS or a PSP in China?
yes but expense their are games aslomost people want it because it is rare
When you win a trip on Wheel of Fortune who pays for airfare?
Most transportation is included in a trip or you are not winning a trip. Sometimes trips have a point of departure and most trips that are won include travel to the point of departure or provide expense money that covers they cost.
How do you get bread on harvest moon island of happiness?
Bread on harvest moon is very complicated to get and very expense. Her are the steps of how to do it:Upgrade your house to Medium Size (10,000G)Buy Refrigerator (2500G)Buy Kitchen (4000G)Ship 100: Strawberries, Cucumber, Potatoes and Turnips (To unlock wheat)Buy Wheat (200G)Put Wheat in Refrigerator and cook bread
Unexpired expense should write in income statement or balance sheets?
Unexpired expense is current assets until used so it is part of assets of business and should be included in assets side of balance sheet.
Unexpired insurance at the end of the fiscal period represents is it an accured asset liability expense or deferred expense?
deferred nexpense
Difference between outstanding expenses and unexpired expenses?
Outstanding expnese is that expense which is already incurred but amount is not paid while unexpired expenses are those expenses for which payment is made in advance but actually expenses are not yet incurred.
What will be the journal entry for unexpired rent?
debit unexpired rentcredit prepaid rent
How will you pass journal entry for unexpired interest?
debit unexpired interestcredit interest paid
What is an antonym for expire?
unexpired
Is unexpired insurance an asset?
Yes. Unexpired insurance, or prepaid insurance, represents value to the business since it has utility and is owned by the business (the company has claim to the policy). Therefore by definition, unexpired insurance is an asset.
How to calculate expired and unexpired prepaid insurance at the end of a year?
In case of some expense u might have seen advance payment is done. So as to comply with the terms of agreement or it can befor any other reason too.And this advance is shown in the asset side of balance sheet.Now,in case of insurance the same thing is happening.For example:- a ltd. F.y begins from 1-4-10 to 31-3-11. A ltd. Purchases a fixed asset on 1-2-11. Now a ltd. Wants to get this fixed asset insured and minimum insurance period as per the insurance policy is 1 year. So here the insurance period willbegin from 1-2-11 to 28-2-12.As per accrual basis of accounting expenses which pretain to a particular year are are to be shown in the p/l of that year. And rest are shown as prepaid expense (in case of insurance termed as , unexpired insurance)now coming back to a ltd. Let us suppose that payment made is = rs. 12000.Calculation of expired and unexpired expense.Total insurance expense paid = 12000insurance expense of single = 12000/12monthexpired insurance = 1000*2 (for the month of feb and march 2011)and rest of the amount is unexpired insurance because the period to which it pertains is of next f.y. Hence in the b/s of 10-11 insurance amount of rs 10000 will be shown as unexpired insurance.And yes one thing more. There is no such term as unexpired prepaid insurance. Either u call it prepaid insurance or unexpired insurance.Hope i solved ur query.
What is unexpired interest?
an asset, which is debited!
What is the different between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
What is the difference between expired cost and unexpired cost?
expired cost - benefit has been received unexpired cost- benefit may or may not be received
What is the difference between cost and expense?
The difference between a cost and an expense lies on the matter of distinguishing and separately recognizing the used, utilized and expired portion of the cost, being that part is what we called an expense. An expense can also be described as a cost forgone since it is already been utilized and used. The expense is also recognized only in the income statement rather than in the balance sheet since utilization is recognized for a certain period of time. On the other hand, an unused or an unexpired cost is reported in the balance sheet as at a certain point of time. A costmight be an expense or it might be an asset. An expense is a cost that has expired or was necessary in order to earn revenues.
