What is considered a utility expense for PPP?
Utility payments include electricity, gas, water, transportation, telephone, and internet related to business and would be considered an eligible expense for debt forgiveness..
What are considered utilities expenses for business?
Rent and utilities The same goes for any utilities you pay for your office space—yes, the government cuts you some slack for keeping your lights on. This includes electricity, gas, telephone bills, and water bills.
What are the 4 types of utility?
The four types of economic utility are form, time, place, and possession, whereby utility refers to the usefulness or value that consumers experience from a product.
Is utility expense a debit or credit?
We analyzed this transaction to increase utilities expense and decrease cash since we paid cash. To increase an expense, we debit and to decrease an asset, use credit….More videos on YouTube.DebitCreditUtilities Expense1,200Cash1,200
What are the examples of utility expenses?
What is considered a utility?
Utilities mean useful features, or something useful to the home such as electricity, gas, water, cable and telephone. Examples of utilities are brakes, gas caps and a steering wheel in a car. Examples of utilities are electricity and water.