Answered: salary to an employee just hired b.…

Business

Accounting

salary to an employee just hired b. Setting up of chart of accounts c. Payment of rent in advance

Century 21 Accounting Multicolumn Journal

11th Edition

ISBN:9781337679503

Author:Gilbertson

Publisher:Gilbertson

Chapter10: Accounting For Sales And Cash Receipts

Section10.1: Accounting For Sales On Account

Problem 4AYU

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Concept explainers

Overheads

In cost accounting, overhead refers to those expenses which occur during the operating of a business. Overhead includes the fixed, variable, or semi-variable which is not directly involved with a company product or service. It is very important to analyze overhead expense as it helps the company in determining how much a company must charge for its products and services so that they can generate profit. Overhead expenses depend upon the nature of the business operations.

Question

100%

Which of the following is nonbusiness transaction?

a. Payment of advance salary to an employee just hired

b. Setting up of chart of accounts

c. Payment of rent in advance

d. Receipt of electricity bill

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