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When would you enter a general journal adjustments in an accounting package?
General journal entries are transactions that you use to track general expenses. You would enter a general journal adjustment in an accounting package for a special situation only.
What are leasing journal entries?
Leasing journal entries are the entries made in the accounting journals of both lessor and lessee to account for the expense or income of a lease. An example would be leasing of business equipment. The lessor would enter a credit in rent revenue and a debit in cash, while the lessee would enter a credit in cash and a debit in rent expense.
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
Accounting Service?
form_title=Accounting Services form_header=Start taking account of your business and saving money with professional accounting services. What type of accounting services does your business need?= [] Tax Preperation [] Audit [] Bookkeeping [] Certified Public Accountant (CPA) [] Other What is your company's annual revenue? (Please enter amount)=_ Briefly describe what your company does:=""
What are the accounting journal entries to record a purchase of inventory at a distressed price?
If the inventory has some value then it must be entered in a new general ledger expense account and have a new contra asset account for the items. Enter the estimated value as a debit to the inventory obsolescence account and then credit it to the inventory reserve account.
List four individual competitive events a student may enter in FBLA?
Accounting 1 Accounting 2 Business communications Business Caluclations
What are the steps in the posting process in accounting?
1. Write the date of the transaction in the account's Date Column. 2. Write the amount of the transaction in the Debit or Credit column and enter the new balance in Balance column under Debit or Credit. 3. Write the page number of the journal in the Post. Ref. column of the ledger account. 4. Record the ledger account number in the Post. Ref. column of the journal.
What is the answer to Problem 5-1A from Financial Accounting Fundamentals 2009 version?
Refer to Problem 5-1A, using the Sample Company Chart of Accounts (5-digits account number) the journal entry on July 1 is a debit to _______________ for $1,500. Just enter the 5-digits account number
How do you enter vehicle maintenance in tally?
To enter vehicle maintenance in Tally, first, go to the "Accounting Vouchers" section. Select the appropriate voucher type, such as Payment or Journal, depending on the transaction. Input the details of the vehicle maintenance expense, ensuring to select the correct expense account and enter the amount. Finally, save the voucher to complete the entry.
What is the relationship between manual and computerize accounting systems?
With manual accounting you have to create journal entries, invoices, and other documents by hand and with computerized accounting you just have to enter the information on the forms, because the forms have already been created in the software.
Can a business enter into a transaction in which only the left side of the basic accounting equation is affected?
yes ,business can enter into a transaction in which only the left side of the basic equation is affected
Can a business enter into a transaction in which only the left side of a basic accounting equation is affected?
yes ,business can enter into a transaction in which only the left side of the basic equation is affected
