What is the normal balance of insurance expense? Generally, Prepaid Insurance is a current asset account that has a debit balance. The debit balance indicates the amount that remains prepaid as of the date of the balance sheet. As time passes, the debit balance decreases as adjusting entries credit the account Prepaid Insurance and debit Insurance Expense.
How much is a 1921 Luger worth? Value is about $1200-$1400 + or minus – unless it is mismatched – then shooter price is around $700-$800 for the gun – extra mag another $100 – holster $100-$200 – everything depends on condition and originality.
How much does an authentic Luger cost? Other models in decent (but not mint) condition usually run from about $1,500 to $5,000. Take the Luger to an FFL, they can give you an idea of whats its worth.
How much is a 1915 Luger worth? If it is functional, between $500 and $5000, with most around the $1000 mark. Pictures would narrow it down a lot. It’s impossible to put a value on it in this kind of forum. Entire books have been written about collecting and appraising Lugers.
What is the normal balance of insurance expense? – Related Questions
Do medical expenses not count toward 2016 taxes?
5. Look for medical expense deductions – You can itemize and deduct qualifying medical expenses from your 2016 taxes if they exceed 10% of your adjusted gross income. … You may even be able to deduct mileage accrued while driving to and from regular medical appointments.
Can you write off expenses from previous years?
Generally speaking, you cannot deduct expenses from a previous year on this year’s tax return. You can only deduct expenses in the year that you paid for them. … Deductions, income or anything else from a previous year cannot be claimed with the current year’s tax information.
Do i have to real of my business expenses?
All expenses must be incurred during the tax year, must be trade- or business-related, and must be “ordinary and necessary.” The expenses don’t have to be required, however: In IRS-speak, a necessary expense is simply one that is helpful and appropriate for your business.
What’s the most expensive car in gta 5 online?
The most expensive car in GTA Online is the Imponte Ruiner, which is also a futuristic vehicle. It is based on the KITT from Knight Rider and is also weaponized, with multiple unique features like a parachute and power hop. It is only available for purchase by CEOs with a Vehicle Warehouse.
What expense is a gift card for my clients?
GIFT CARDS AND CERTIFICATES: Gift cards and gift certificates areconsidered taxable income to employees because they can essentially be used like cash. The cost of the gift card is fully deductible to the business, but you must withhold taxes from the employee’s pay for these gifts.
How expensive is owning a gerbil?
A gerbil costs $5-10. Its cage costs $50-60, plus $50 for a water bottle, chew toy, and exercise wheel. Each gerbil eats $50-60 of food per year, and the tank needs $50-100 of bedding. Vets bills cost $40 for a checkup, $10 for medication, and $200 for surgery.
How expensive are genuine leather chairs?
The average price of leather furniture can range anywhere from $599 – $7,999 depending on the leather quality, size, and upgrades. Although you may pay more upfront, the lifetime value of genuine leather furniture will be much higher than cheaper options.
What is the most expensive currency in the world 2017?
An oil rich country located in the middle-east, Kuwait has the highest valued currency in the world currently. The currency is called Kuwait Dinar and for exchanging a single Dinar you’ll get around 212 INR.
What animal from peru produces the most expensive wool?
Vicuña wool is the finest and rarest wool in the world. It comes from the vicuña, a small llama-like animal native to the Andes Mountains in Peru.
Are invisalign expensive?
On average, clear aligners will range in cost from $1,800 to $10,000 across the United States. Conventional braces cost is often similar to these costs. These are average prices. Invisalign’s official website states that average cost of Invisalign treatment can range from $3,000 – $9,000.
What is considered an expense on income statement?
Expenses: Expenses are the costs that the company has to pay in order to generate revenue. Some examples of common expenses are equipment depreciation, employee wages, and supplier payments. There are two main categories for business expenses: operating and non-operating expenses.
What is a normal payroll expense?
Generally, payroll expenses that fall between 15 to 30 percent of gross revenue is the safe zone for most types of businesses.
Why is punta cana so expensive?
“We are hardly going to be able to compete with such expensive seats. One of the reasons why they are so high is because there is a lack of volume, a lack of scale, ”argued the leader of the largest US tourism group, also considered for such a role as the most powerful Latin American in the tourism industry.
Is equipment expense?
Equipment is not considered a current asset. Instead, it is classified as a long-term asset. … In this case, the equipment is simply charged to expense in the period incurred, so it never appears in the balance sheet at all – instead, it only appears in the income statement.
What type of account is operating expense?
An operating expense is an expense a business incurs through its normal business operations. Often abbreviated as OPEX, operating expenses include rent, equipment, inventory costs, marketing, payroll, insurance, step costs, and funds allocated for research and development.
Can you deduct travel expenses virginia?
Travel meal expenses are reimbursable only for overnight official business travel outside the traveler’s official station. … Actual costs of meals should be claimed, but not to exceed the maximum daily allowance.
Can i customize expense fields in quickbooks enterprise?
You can add custom fields to sales forms, purchase orders, expense forms, customer profiles, and vendor profiles. This gives you more flexibility to add custom data and drive insights through detailed reports.
Why is advertising so expensive?
Marketing is expensive for one simple reason, because it’s at the core of making money for all businesses. … It is what drives revenue for all of the most successful businesses. One of your business goals is hopefully to generate a certain amount of revenue.
Can fsa be used for dental expenses?
You can use funds in your FSA to pay for certain medical and dental expenses for you, your spouse if you’re married, and your dependents. You can spend FSA funds to pay deductibles and copayments, but not for insurance premiums.
Should i expense a meal job interview?
The answer: No, you should not offer to pay. The interviewer has invited you, so the interviewer should pay. Whoever does the inviting, pays. If you invite someone out for a meal or coffee for an informational interview, you would pay the bill.