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lien marking for buying investment
Investment A/C is personal account
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
it is a personal account
it is a personal account
Vanguard-Investment Co-WILLYOU OPEN MY INVESTMENT ACCOUNT?
Interest earned in a bank account is not an investment. It is considered an income. The money that you have in the bank account that earned the interest for you is considered the investment
buying shares in a company.
Say I purchsed $500 in Office Supplies on account, I return the office supplies, since I purchased them on account, the company I purchased them from will extend me a credit to my account decreasing the balance I owe them by the said amount. My books will record....Account Payable (debit)Office Supplies (credit)I debit my Account Payable to show that I no longer owe that amount and I credit my Office Supplies to show that I no longer have that amount of supplies on hand.
Yes investment account in balance sheet shows the investment in stocks of other companies only.
debit accounts payablecredit supplies return account
yes