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Paid in capital is liability for business and like all liabilities it also has credit balance as normal balance.
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What is the journal entry for Share capital and Paid up Capital?
[Debit] Cash account xxxxx [Credit] Share application account xxxxx Entry 2 [Debit] Share Application account xxxxx [Credit] Share Capital Account xxxxx
Is Paid in capital is a debit or credit balance?
Credit
Is a service revenue that is billed but not paid a credit or debit?
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
In accounting which account cannot have a debit balance so if you need to decrease it by more than the credit balance of the account you would need to debit retained earnings?
I figured it out, Additional Paid-In Capital - Treasury Stock
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
What is the journal entry for Share capital and Paid up Capital?
[Debit] Cash account xxxxx [Credit] Share application account xxxxx Entry 2 [Debit] Share Application account xxxxx [Credit] Share Capital Account xxxxx
What is the journal entry to increase paid up capital?
debit cash /bankcredit capital account
Is Paid in capital is a debit or credit balance?
Credit
What is the journal entry to increase paid-up capital?
debit cashcredit share capital
Is a service revenue that is billed but not paid a credit or debit?
A service revenue that is billed but not paid is an account receivable. Account receivables are assets and therefore you would "debit" the account.
In accounting which account cannot have a debit balance so if you need to decrease it by more than the credit balance of the account you would need to debit retained earnings?
I figured it out, Additional Paid-In Capital - Treasury Stock
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
Does a credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does a credit to accounts payable represent cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does paid-in-capital carry a debit or credit balance?
Paid in capital is the liability for business and like all other liabilities it also has credit balance as normal balance
What is the journal entry if an owner makes payments on a company loan and he will not be reimbursed by the company?
debit loan accountcredit owners equityDebit Loan Payable Debit Interest Expense Credit Paid in Capital
