BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Expenses
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Machine
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Profit & Loss
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None of the above
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Detailed explanation-1: -Solution(By Examveda Team) The installation expenses for a new machinery will be debited to Machinery A/c.
Detailed explanation-2: -Answers. It will come in debit side in the profit and loss account..
Detailed explanation-3: -Definition: All expenditure incurred by establishments (but not central administrations) of a management expenses/administrative support nature such as any rates and taxes, printing, telephone, stationery and insurance (including workers compensation).
Detailed explanation-4: -Installation charges incurred on machinery is debited to installation expense account.
Detailed explanation-5: -Answer: establishment expenses A/C dr. Explanation:As per Golden rules All expenses are debited and Asset has debit balance so if credited it is reduced.