Debit bank account
Credit retained earnings
Debit bank Credit retained earnings
Debit payroll Credit cash / bank
debit payroll taxes Credit cash
debit payroll expense credit salary payable
Debit outstanding expenses Credit expenses payable
debit payroll expenses credit cash / bank
[Debit] Outstanding expenses [Credit] Cash / bank
Debit Payroll tax Expense Credit Payroll tax payable debit Payroll tax payable Credit Cash / bank
debit rent payable credit cash
debit to wages expense
debit rent expense credit rent payable
debit expenses credit expenses payable
debit salaries expense credit salaries payable
debit dishonored cheque credit accounts payable
debit accounts receivable credit revenue account
outstandindg expences journal entry expences a/c dr to outstanding expences a/c
debit salary payable Credit cash / bank
You need to check the original journal entry for the check transaction. Then reverse all the original entries by Dr where you initially Cr and vice versa.
debit office supplies credit accounts payable
debit wages expenses credit wages payable
Debit payroll expense Credit cash credit federal tax payable credit state tax payable
Payroll expenses account goes to Profit & Loss account while Payroll payable is a Balance Sheet Liability item... Journal entry: Payroll Expense Account - DR ...........(P&L) Payroll Payable Account - CR ............(B/S)
1 - General journal entry 2 - Adjusting journal entry 3 - Month end adjusting entry
Debit employee expenses Credit cash Debit payroll Credit cash (balance amount) credit employee expense
Outstanding wages are those wages that have been earned in one acctg period but will not be paid until the next. This happens when a payroll period crosses months. Under the accrual basis of... entry is wages expenses are credit and outstanding wages are credit.
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
Debit bad debts Credit accounts receivable
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
To record payroll for month end: D R Payroll Expenses CR Cash CR 401 Payable To pay 401k plan DR 410k Payable CR cash
debit salary expense credit salary payable
debit wages expense credit cash
there are adjustments are in journal entries but there is no certain meaning, definitions for the term 'journal entry adjustment'
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.
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
the journal entry to close the drawing account involves:
recording of business transaction in chronological order is a journal entry
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
Debit payroll expense credit cash account
Compound journal entry is that in which there is more than one debit and credits or where there is more than one transactions recorded on one journal entry.
if journal entry is misclassified to some other account then it is required to re-classify the journal entry for correct impact or record purposes.
There is no journal entry for loan repayment schedule rather journal entry is made when actual payment is done or installment is paid.
A double-entry journal is when there is a title or category on one side, and the opposite side of the journal has the responses.
In this voucher a user calculate only adjustment entry transaction are made like- outstanding expense,prepaid expense, interest on capital,etc .
cash at bank dr account opayable cr