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the entry can be done in two ways
1= if house is the propery of the firm but firm deals in some another business
cash account dr
profit and loss account dr
to house account
** this entry is done when house has been sold in cash
2= if firm's business is to deal in houses then entry would be
cash account dr
to sales account
Wiki User
∙ 14y ago
Wiki User
∙ 12y agodebit loss on investment
credit investment
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What is journal entry of closing stock?
it s transfer to profit and loss account.
What is the journal entry to record the unrealized loss on donated stock?
Dr. Unrealized loss on investment in Company B (P&L) Cr. Investment in Company B (B/S)
Pass the journal entry for loss by theft?
loss by theft A/c to purchases
What is journal entry for unrealized loss?
Debit loss accountCredit cash / bank
What is the general ledger journal entry to write off bad investments?
debit cash / bankdebit loss (if any)debit accumulated depreciationcredit fixed assetcredit profit (if any)
What is the journal entry for the sle of an assett at a loss?
Debit cash / bankdebit loss on saleCredit fixed asset
What is the journal entry for goods lost in fire?
debit loss by firecredit purchases
What will be the journal entry for good lost by fire How?
debit loss by firecredit goods inventory
What is the Journal entry for loss on sale of equipment?
[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx
What should be Journal entry for creation of general reserve?
Reserves always created from profit. Therefore the Journal entry will be for creating reserves Dr Profit & Loss A/c CR Reserve A/c
What is journal entry if fixed assets lost by theft?
debit loss of assetcredit fixed asset
What is the journal entry for profit transfer from profit and loss account to balance sheet?
Debit profit and loss accountCredit owners capital
