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2. Accrued liabilities - Wikipedia

   en.wikipedia.org/wiki/Accrued_liabilities

   Examples would include accrued wages payable, accrued sales tax payable, and accrued rent payable. There are two general types of Accrued Liabilities: Routine and recurring; Infrequent or non-routine; Routine and recurring Accrued Liabilities are types of transactions that occur as a normal, daily part of the business cycle. [2]

3. Tax expense - Wikipedia

   en.wikipedia.org/wiki/Tax_expense

   The result is a gap between tax expense computed using income before tax and current tax payable computed using taxable income. This gap is known as deferred tax. If the tax expense exceeds the current tax payable then there is a deferred tax payable; if the current tax payable exceeds the tax expense then there is a deferred tax receivable.

4. Adjusting entries - Wikipedia

   en.wikipedia.org/wiki/Adjusting_entries

   When this cash is paid, it is first recorded in a prepaid expense asset account; the account is to be expensed either with the passage of time (e.g. rent, insurance) or through use and consumption (e.g. supplies). A company receiving the cash for benefits yet to be delivered will have to record the amount in an unearned revenue liability ...

5. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/accounts-payable-recorded-balance...

   Importance of Accounts Payable. Accounts payable represent short-term debt obligations. While terms can vary, accounts payable typically need to be paid for within 30 days.

6. Liability (financial accounting) - Wikipedia

   en.wikipedia.org/wiki/Liability_(financial...

   They usually include payables such as wages, accounts, taxes, and accounts payable, unearned revenue when adjusting entries, portions of long-term bonds to be paid this year, and short-term obligations (e.g. from purchase of equipment). Current liabilities are obligations whose liquidation is reasonably expected to require the use of current ...

7. Expense - Wikipedia

   en.wikipedia.org/wiki/Expense

   For tax purposes, the Internal Revenue Code permits the deduction of business expenses in the tax payable year in which those expenses are paid or incurred. This is in contrast to capital expenditures [2] that are paid or incurred to acquire an asset. Expenses are costs that do not acquire, improve, or prolong the life of an asset.