-Director’s salaries Salaries, fees and other expenses in relation to the directors are expenses as far as company accounts are concerned. This is different from that of Partnerships & Sole traders which are shown as appropriations – expenses.
-Audit fees All companies are required to prepare the accounts which should be audited and
therefore any fees paid in relation to audit and accountancy is an expense.
-Debenture interest Loans taken up by companies are called debentures. The interest paid on these loans is charged as an expenses and unpaid amount are shown as current liabilities in the
business. The debenture is classified under non-current liability.
- Amortization e.g. goodwill
Titany answered the question on December 10, 2021 at 13:38
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