No journal entry for net income it is the difference between total expenses and total revenue and it is the balancing figure
a journal complies several articles.
A print journal is a journal hand written when a electronic journal is done by the computer
The major difference is : Blogs are online diaries but journal is a daily record of events or business; a private journal is usually referred to as a diary.
They are the same.
Expenses a/c dr to outstanding expenses a/c
Debit outstanding expensesCredit expenses payable
Debit deferred expensesCredit expenses payable
Missing depreciation will increase the profit while reduce the expenses in the year in which depreciation is missing.
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
i dont know please help me