[Debit] Cash xxxx
[Credit] Bank xxxx
[debit] office use expenses[credit] cash
debit drawingscredit office equipment
cash widraw is indirect expenses or what
Debit outstanding expensesCredit expenses payable
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
[Debit] Outstanding expenses [Credit] Cash / bank
No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
Debit cash refundCredit expenses
Debit electricity expensesCredit expenses payable
debit food expenses / meals and entertainmentcredit cash / bank
As it is a advance receipt the journal entry would be cash dr. to deferred revenue