--%>
Assignment Help - homework help

Accrued liability

 

Usually a liability on the balance sheet that shows up because the company had to take an expense and record it on the income statement before the payment was due. A common example is utilities. A company has to include the phone, gas, and electric expense for December in the annual income statement, but the bill does not have to be paid until January. The agglomerate depreciation company records the budget, reducing income, and then, rather than reducing cash, increases the acquired liability on the balance sheet. In January when the company pays the bill, the liability and cash are minimized 

 

 

   Related Questions in Managerial Accounting

  • Q : Factors due to changing business

    What are the various factors which occurred due to the changing business landscape?

    		•
  • Q : Activity-based costing Normal 0 false

    Normal 0

  • Q : Explain Standard Costing Standard

    Standard Costing: A costing technique which joins costs to cost objects based on reasonable approximations or cost studies and by the means of budgeted rates instead of according to actual costs incurred. The predictable cost of gener

    		•
  • Q : Define Cost Avoidance Cost Avoidance :

    Cost Avoidance: The action taken to decrease future costs, like replacing parts before they fail and cause harm to other portions. Cost avoidance might incur higher (or extra) costs in the short run however the final or life-cycle cost would be lower.

    		•
  • Q : Chapter 10 Unfocused Books is a

    Unfocused Books is a discount retail bookshop that has three departments: fiction, non-fiction and children’s books. Sales and cost of sales for each department are shown below. In addition, each department has its own fixed costs for staffing and takes a one-third share of rental and management cos

    		•
  • Q : Determining costs and benefits in

    Write down a short note on determining costs and benefits in decision making process?

    		•
  • Q : Illustrate the effect of tax on the

    The U.S. market for rice is illustrated below.   The world pric

    		•
  • Q : Developing objectives and plans in

    Write down a short note on the developing objectives and plans in decision making process?

    		•
  • Q : Conditions in which fixed capital of

    Give circumstances in which the fixed capital of partners might change. Answer: Two circumstances in which the fixed capital of Partners might change are as follows:

    		•
  • Q : Main purpose of the business Briefly

    Briefly describe the main purpose of the business?

    		•