ExFlyer Posted February 20 Report Share Posted February 20 (edited) On 2/16/2024 at 2:34 PM, CdnFox said: No, sorry that's not how it works. If i need pens for my business and i go to the store and buy pens, i will mark it as an expense in my accounting. But there's no debt. An expense is not a debt. And a debt is not an expense until you pay it. It's an account payable. It's a liability, but not an expense. Thats why your ledger will have "Expense AND LIABILITY", not just expense. You have no idea what you're talking about. At all. You're 100 percent wrong. Yes it is. if you need pens and you go buy them , that is an expense and to pay it, you owed the pen store, you paid the debt to the pen store. As usual, you are 100% something.. not sure whatcbut you are 100% LOL Edited February 20 by ExFlyer Quote Link to comment Share on other sites More sharing options...
CdnFox Posted February 20 Report Share Posted February 20 1 hour ago, ExFlyer said: Yes it is. ROFLMAO - it isn't. Take a basic book keeping course and you'll realize how stupid you sound an expense is not a debt. Quote if you need pens and you go buy them , that is an expense and to pay it, you owed the pen store, you paid the debt to the pen store. You didn't owe the pen store anything. There was an exchange You gave them money and they gave you pens. No debt. And even in the case where you arrange for payment later it's not a debt in any accounting system recognized in the free world. It's an account that's payable. That is radically different than a debt. In fact - let me REALLY melt your brain, most businesses pre-pay for some of their expenses, such as insurance. So - they've paid BEFORE the expense was even incurred! It's called "prepaid expenses" in accounting. So - how is that expense a debt? What is it with you? Whenever someone points out you're wrong about something you feel the need to go full throttle ****** and double down on it. Now you've gone from looking like you're a little wrong on an unimportant subject to looking like you're a drooling tard with brain damage. Why? Quote Link to comment Share on other sites More sharing options...
ExFlyer Posted February 20 Report Share Posted February 20 25 minutes ago, CdnFox said: it isn't. ..... OK LOL Who am I to challenge the great and powerful Oscar Zoroaster Phadrig Isaac Norman Henkle Emmannuel Ambroise Diggs??? LOL Quote Link to comment Share on other sites More sharing options...
CdnFox Posted February 20 Report Share Posted February 20 16 minutes ago, ExFlyer said: OK LOL Who am I to challenge the great and powerful Oscar Zoroaster Phadrig Isaac Norman Henkle Emmannuel Ambroise Diggs??? LOL Or CPA canada for that matter Sigh - once again, you get exposed to the facts and have a meltdown. And once again somehow you want it to be my fault Quote Link to comment Share on other sites More sharing options...
ExFlyer Posted February 20 Report Share Posted February 20 1 hour ago, CdnFox said: Or CPA canada for that matter Sigh - once again, you get exposed to the facts and have a meltdown. And once again somehow you want it to be my fault Ha.... lost again LOL "Who am I to challenge the great and powerful Oscar Zoroaster Phadrig Isaac Norman Henkle Emmannuel Ambroise Diggs??? LOL" Quote Link to comment Share on other sites More sharing options...
CdnFox Posted February 20 Report Share Posted February 20 6 minutes ago, ExFlyer said: Ha.... lost again LOL Well try harder next time and maybe you won't lose again. I mean really - arguing that an expense is a debt... that should have taken you 3 seconds to look up Quote "Who am I to challenge the great and powerful Oscar Zoroaster Phadrig Isaac Norman Henkle Emmannuel Ambroise Diggs??? LOL" Sounds more like you're challenging your therapist but whatever Quote Link to comment Share on other sites More sharing options...
ExFlyer Posted February 20 Report Share Posted February 20 45 minutes ago, CdnFox said: .... Sounds more like you're challenging your therapist but whatever So, you still don't get it do you?? LOL ""Who am I to challenge the great and powerful Oscar Zoroaster Phadrig Isaac Norman Henkle Emmannuel Ambroise Diggs??? LOL"" Quote Link to comment Share on other sites More sharing options...
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