What Is Interest Receivable? Interest Receivable Interest receivable is an amount of interest earned but not yet received in cash. It is typically classified as a current asset on the balance sheet, except when there is no expectation to receive…
What Is Insurance Expense? Insurance is a financial product used to protect against risk. It is a means of transferring the potential financial burden of an unforeseen event, such as an accident or natural disaster, to an insurance company. By…
What Is Accrued Rental Income? Rental Income Rental income is the payment received from the leasing of a property. It is the money a landlord receives in exchange for allowing a tenant to use their rental property. Rental income is…
Accounting For Insurance Proceeds Insurance Insurance is an important financial tool that provides protection against a variety of risks and events. It is a contract between the policyholder and the insurer that guarantees a sum of money in the event…
What Is A Contra Expense? Key Takeaways Contra expenses are a unique type of expense account that offsets another expense. They are recorded in a contra-expense account in the general ledger and help balance the books and track transactions between…
Are Expenses Appear On The Balance Sheet? Key Takeaways Expenses incurred by a business are not typically reflected on the balance sheet. Expenses are accounted for on the income statement. The balance sheet provides an overview of a company’s assets…
Accounting For Unearned Rent Accounting for unearned rental income is a critical part of ensuring the accuracy of financial records. This article will provide an overview of rental income, unearned rental income, and the process of accounting for unearned rental…
What Is An After-Tax Real Rate of Return? The after-tax real rate of return is a measure of the investment return net of taxes, taking into account the effect of inflation. Rate of return (RoR) is a metric that is…
What Are Gross Accounts Receivable? Accounts Receivable Gross accounts receivable is a measure of the total amount of accounts receivable a company has at any given time, before any deductions or adjustments. Accounts receivable is money owed to a company…
What Is Accrued Rent Expense? Rent expense is an expenditure that is incurred by businesses over the course of leasing property. This expense is typically recorded on a monthly basis. Accrued rent expense is a form of rent expense that…
What Is an Ending Balance? An ending balance, also known as a closing balance, is a term used to describe the total amount of money in an account at the end of a period of time. Calculating the ending balance…
What Is Accrued Rent Liability? Rental expense is a common part of any business. One part of this expense is the accrued rent liability. Accrued rent liability is a term that is used to refer to the amount of rent…