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What is the journal entry for car trade in?
[Debit] New Car[Debit] Accumulated depreciation[Credit] Cash / bank[Credit] Trade-in Old car
What is the journal entry to purchase asset from general reserve?
General reserves need to be converted into cash first by issuing new shares to share holders and after that cash can be used to purchase assets.
What should be Journal entry for purchase of building from general reserve account?
First of all general reserves need to be converted into cash by issuing new shares and then that cash can be used to purchase building.
Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
What journal entry did charlie write after he left new york?
dear ........................
How do you post journal entries in QuickBooks Online?
To post journal entries in QuickBooks Online, go to the "New" menu and select "Journal Entry." Enter the necessary details such as the date, accounts, and amounts. Review and save the entry to post it to your account.
What is the journal entry for trading a vehicle for another vehicle?
Debit new assetdebit loss (if any)debit accumulated depreciationCredit cash / bankcredit profit (if any)credit old car trade-in
How do you put opening balance in pastel?
To enter an opening balance in Pastel, navigate to the "General Ledger" module and select "Journal Entries." Create a new journal entry, ensuring you choose the appropriate date for the opening balance. Input the balances for each account as debit or credit entries, then save the journal entry. Finally, remember to post the entry to update the accounts with the opening balances.
How can you get out of a new car purchase?
Sell it.
Can a new car dealer finance a new car purchase?
Yes, new car dealers can finance a new purchase. Many dealers work with multiple banks to help find financing for their customers.
Can you return a new car in Washington state?
After a car purchase, can I return the car?
Can you cancel a car purchase in NJ?
No you can not cancel a car purchase in New Jersey. There are however exceptions to this such as if the car has a serious mechanical defect.
