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What are the journal entries when you want to transfer stock from one company to another separate company?
Wiki User
∙ 9y ago
debit stock in other company
credit stock inventory
Wiki User
∙ 9y ago
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What is the purpose of closing entries?
The purpose of closing entries is to transfer the balances of temporary accounts to permanent accounts. These entries are used via the adjusted trial balances.
If two separate companies have the same owner can there be an intercompany account between the two?
Yes you will have intercompany entries as they are separate legal entities
Why is it important for a company to make adjusting journal entries?
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
Why is it important that companies make adjusting journal entries?
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
What is the purpose of closing entries?
The purpose of closing entries is to transfer the balances of temporary accounts to permanent accounts. These entries are used via the adjusted trial balances.
If two separate companies have the same owner can there be an intercompany account between the two?
Yes you will have intercompany entries as they are separate legal entities
Why is it important for a company to make adjusting journal entries?
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
Why is it important that companies make adjusting journal entries?
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
How can you create a database in which students can only view their own entries in BigGyan Cloud eLearning?
Either:* Set up the database so that entries require approval. If the entries are never approved, then only the student that added a particular entry and the teachers can view it.Or:* Set the group mode of the database to "Separate groups" and assign each student to a separate group.
Why adjusting entries are necessary?
Adjusting entries are necessary to ensure that accounts balance. When accounts don't balance it may indicate that the company is being mismanaged.
What character is used to separate entries in passwd?
You can see this yourself by looking at the passwd file - it is the colon symbol.
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
The entries in a sales journal will show?
Entries in sales journal shows all the sales company has made on credit and no other transaction is part of sales journal account.
What is the journal entries company sales product?
debit accounts receivablecredit sales revenue
Another name for dictionary entries?
A different name for dictionary entries would be a definition. You could also use the word explanation in place of definition.
What are journal entries that brings accouns up to date at the end of the accounting period?
Adjusting entries is the name for journal entries that serve the purpose of making the accounts current. Usually, the entry is made just prior to when a company issues its financial statements.
