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How do you record a journal entry for non inventory item?
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What is entry?
An entry is an item inserted in a written record. An entry is also the act of going into an enclosure such as a room or tank.
What is the most purchased item with a credit card?
Gasoline is the most bought item (by dollar volume) with a credit card, representing over 10% of credit card sales volume. (original answer) I'm pretty sure jewelry is the most thing bought with a credit card
Can you get a cash refund when you pay for an item with a credit card?
It is dependent on the store that you purphased the item from. Some will allow you, others will not. Typically, they ask you for the credit card you used when you bought the item and refund the money back onto the card.
Is sales tax included in Gross sales?
Sales tax is not included in gross sales. For example when an item is sold for a total of $105 including $5 in sales tax the proper journal entry is a debit of $105 to cash, credit of $100 to sales, and a $5 credit to the sales tax payable account. The liability for sales tax should appear on the balance sheet.
Will returning item bought on a credit card affect your credit history?
No. The merchant may drop you from his preferred customer list if he notices a lot of returns, but the credit card company doesn't care.
Toyota Echo change brake shoes?
http://echodiy.multiply.com/journal/item/10/Rear_Brakes http://echodiy.multiply.com/journal/item/9/Front_Brakes_02
What is the purpose of an index journal?
The primary purpose of an index journal is to hold all the information regarding a specific item. Such as an index journal for a vehicular manual or an index journal for a book.
How do you journal entries for an item that is on sale?
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
What is an entry?
An entry is an item inserted in a written record. An entry is also the act of going into an enclosure such as a room or tank.
How do you solve a transaction using double entry system?
First you have to understand the nature of the transaction, and be aware of any special rules for recording the given transaction. When the transaction is recorded in the accounting records as a journal entry, total debts must be equal to total credits for the journal entry. Generally, if a transaction involves the acquisition of an asset or the incurring of an expense, a debit for the amount of the transaction (usually its cost) is recorded. A corresponding credit is made either to the cash account (if the item has already been paid for by cash or check) or to a liability account such as accounts payable (if it has not yet been paid for, which is often the case). In large companies, the initial credit is usually made to the Accounts Payable account , and a separate department will actually pay the invoice for acquired assets or services rendered to the business. When the invoice is paid and a check is cut, a debit is made to Accounts Payable (cancelling out the original credit) and a credit is posted to cash (to show the amount of decrease in the Cash account when payment is actually made).
Can I return an item from one Victoria's Secret store to another store?
Yes, you can return an item to a Victoria's Secret in another location. However, if the item was on sale or bought under promotion, there may be special circumstances regarding it and you will need to check your receipt for further details. There's also usually a limited amount of days you can return your item for full credit.
