0
If its cash sales
Cash A/c ... Dr
to Sales A/c
If its Credit Sales
Party(buyer) A/c Dr
to Sales(Goods or service) A/c cr
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∙ 11y ago
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What are the Journal entries for a sale of subsidiary?
There are several important journal entries for the sale of a subsidiary. These include: Fixed assets, current assets, current liability, deferred tax liability, and goodwill.
What are journal entries for sale of vehicle for a non profit entity?
debit cashcredit vehicle
What are journal entries for sale of vehicle for non profit?
debit cash / bankcredit vehicle account
What are the two journal entries necessary to record a sale?
debit cash / accounts receivablecredit sales
What are the accounting journal entries to record a sale of inventory with discount?
debit accounts receivablecredit sales revenue
What is the difference between journal entries vs adjusting entries?
Journal entries are recorded as soon as financial transaction occures while adjusting entries are made to rectify the previously made journal entries.
What are Journal entries for a deposit included in rent income?
what the journal entries of stationery at hand
How do the adjusting entries differ from othe journal entries?
Journal entries are those entries which are recorded first time when any transaction occured while adjusting entries are only recorded when there is any adjustment required in previously created journal entry.
Should journal entries be listed chronologically?
Yes, all journal entries should be recorded in a order in which they occur so as per this all journal entries should be listed chronologically.
What are the proforma journal entries?
Proforma journal entries are hypothetical journal entries prepared before actual transactions occur. They help in understanding the potential impact of transactions on financial statements. These entries are used for forecasting and planning purposes.
General journal entries?
. 1. Based on the bank reconciliation prepare the journal entries.. Alaine Alvarez consulting July 31
What is a journal voucher?
The entries such as "Rectification Entries", "Adjustment Entries", "Closing or Opening Entries" and Making or Providing for estimates are passed through an internal document called Journal Voucher. Book Entries are classified as: 1) Purchase Order Based Entries - Booking expenses and liability via GRN against a P.O 2) Sales Order Based Entries - Booking Sales & Scrap Sales 3) Treasury Entries - Entries involving Bank or Cash 4) Debit Notes 5) Credit Notes 6) Journal Entries Journal Voucher is the document through which the Journal Entries are made into the books.
