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Is issuance of stock debited or credited in a general journal?
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What is the journal entry for prepaid revenue?
prepaid revenue is debited and revenue is credited
Why cash is debited and capital is credited in journal of accounting?
1. Cash is debited because business cash is increased and capital is credited because it is the liability of the business towards its owner to return back at the time of dissolution of business.
What is the journal entry for furniture purchased?
[Debit] Furniture [Credit] Cash / bank
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
Journal entry for salary advance paid?
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
What is the journal entry for prepaid revenue?
prepaid revenue is debited and revenue is credited
Why cash is debited and capital is credited in journal of accounting?
1. Cash is debited because business cash is increased and capital is credited because it is the liability of the business towards its owner to return back at the time of dissolution of business.
What is the journal entry for furniture purchased?
[Debit] Furniture [Credit] Cash / bank
A sole proprietor has incurred as expense out of his personal accont - what will be the journal entry?
The expense account will be debited and capital will be credited by the same ammount
How do you reverse a journal entry?
Change the signs on the original entry, ie. change the Debit to credit and vice-versa then re-post the journal.
What is the journal entry for payment of accrued expense?
debit accrued expensescredit cash / bank
Journal entry for salary advance paid?
When an employee receives an advance on pay an asset account called employee advances is debited and the cash paid out is credited. When the advance is repaid then the applicable expense accounts are debited and the advance account is credited.
What is the journal entry to write off an old server?
dr loss on asset retirement dr accumulated depreciation cr asset-server if sold cash would be debited and loss would be debited or gain credited
How do you post a journal entry for sale of a vehicle with depriciation?
The amount received for sale of the vehicle with depreciation is compared to the vehicle's net value and debited as a loss or credited as a gain.
What would the journal entry be if expenses are paid out of personal cash?
I think that you mean a debit which goes on the left side of the journal or in your record book
What is the journal entry for a purchase purchased on account of 54780?
Purchase Credit Journal Entry is the journal entry passed by the company in the purchase journal of the date when the company purchases any inventory from the third party on the terms of credit. The purchases account will be debited. The creditor’s account or account payable account will be credited to the company’s books of accounts. visit our page : ieqsgroup .com/about-us
What accounts might be placed first in a proper journal entry?
Typically, the accounts that are credited are placed first in a journal entry, followed by the accounts that are debited. The credit account is listed on the first line with the credit amount, and the debit account is listed below with the debit amount.
