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Are Office Supplies assets or liabilities?
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The supplies that have been used during the accounting period should be reported in the income statement account Supplies Expense. Basically, supplies are assets until they are used. When they are used, they become an expense.
What are Party Games?
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1 Answers
Party games are games that are played as a part of a party, to facilitate interaction and provide entertainment and recreation at social gatherings. Categories include (explicit) icebreakers, parlour (indoor), picnic (outdoor), and large group games. Other types include pairing off (partnered) games, and parlour races. Different games will generate
What are office supplies in accounting?
Asked by unknown
1 Answers
Office Supplies Expense. Office supplies include copy paper, toner cartridges, business forms, pens, pencils, stamp pads, letter envelopes and other desk supplies. You typically treat office supplies as incurred expenses associated with administrating the operation of your business.