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What is journal entry when started business with furniture?
Furniture a/c dr. To capital a/c
What is the journal entry for furniture purchased?
[Debit] Furniture [Credit] Cash / bank
What is the journal entry for purchase of furniture?
furniture a/c dr to cash a/c
What will be the journal entry Office Furniture purchased with gift cards?
[Debit] Office furniture [Credit]Owner equity / Retained Earnings
What is the journal entry for purchase of household furniture in cash?
debit household furniturecredit cash / bank
What is the journal entry for started business with cash rs 4000 and furniture rs 10000?
Debit cash 4000debit furniture 10000Credit capital 14000
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
What is the journal entry for extraordinary loss?
If extraordinary loss is on a/c of furniture & fixtures, then instead of crediting purchases, furniture & fixtures should be credited.
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
