Asked Nov 25, 2019

Define the following terms?

1.) Sundry expenses.

2.) Accrued interest.

3.) Credit balance.


Expert Answer

Step 1
  1. Sundry expenses: Sundry expenses are expenditures incurred by company which is generally of small value or relatively unimportant to be mentioned individually in the separate ledger account.
Step 2

 2. Accrued interest: Accrued interest is the outstanding interest expense in the a...

Want to see the full answer?

See Solution

Check out a sample Q&A here.

Want to see this answer and more?

Solutions are written by subject experts who are available 24/7. Questions are typically answered within 1 hour.*

See Solution
*Response times may vary by subject and question.
Tagged in



Related Accounting Q&A

Find answers to questions asked by student like you
Show more Q&A

Q: Metlock Inc. manufactures cycling equipment. Recently, the vice president of operations of the compa...

A: Determine interest payable each semi-annum.


Q: Can someone help me solve this

A: Straight-line depreciation method:The depreciation method which assumes that the consumption of econ...


Q: Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days after ...

A: Estimated Sales return are deducted from the sales of the year to arrive at the net sales as per the...


Q: TB MC Qu. 08-168 Mohr Company purchases a machine at the... Mohr Company purchases a machine at the ...

A: Determine depreciable cost.


Q: Phoenix Co. acquired a large piece of specialized machinery used in its manufacturing process. The f...

A: "Speeding ticket during transportation and cost incurred to repair a damaged door during installatio...


Q: Bank Reconciliation and Entries The cash account for Brentwood Bike Co. at May 1 indicated a balance...

A: 1. Prepare the bank reconciliation statement.


Q: how would i solve this

A: Determine the net present value of the project:


Q: Parrish 2-9 Pg. 39 #4For the following T-Account calcuate the missing amount and show how you fingur...

A: T-account: The condensed form of a ledger is referred to as T-account. The left-hand side of this ac...


Q: Why are assets revalued and liabilities reassessed at the time of change in profit sharing ratio?

A: Meaning of Revaluation of AssetsA revaluation of assets is an action that may be required to accurat...