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- 2011-7-11
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2#
发表于 2011-7-11 18:33
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Don't have my books at the moment so you may want to double check:
1. Accounts payable is a liability account on the balance sheet. Essentially you owe others money and have to pay them in the future. E.g. you received inventory from a supplier but haven't paid the supplier yet. Accrued expense is often associated with accounts payable, but it's an income statement account. According to the matching principle, expense should be recognize when income is earned. So accrued expense occurs when you need to record an expense, but haven't paid yet. E.g. you haven't paid out pay cheques to your employees yet, but since they were earning income for the company, salary expense must be recognized. Thus, you get accrued expense.
2. Is this on bonds? Don't really remember.
3. Depreciation is an expense account on income statement. It's tied to accumulated depreciation. E.g. you bought an asset for $100, useful life of 5 years, straight line amortization, no salvage value:
Time of purchase: asset = 100, acc. depr. = 0, depr = 0
Year 1: asset = 100, acc. depr. = 20, depr = 20
Year 2: asset = 100, acc. depr. = 40, depr = 20
Year 3: asset = 100, acc. depr. = 60, depr = 20
Annual depreciation just adds up to accumulated deprecation. At the end of 3 years, the net book value of the asset is 100 - 60 = 40. |
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