Debit business expenses
Credit cash
When business is started without cash then may be owner invested some kind of asset in business journal entry is as follows: [Debit] asset in kind [Credit] Owner's Equity
she invested P 50, 000 in cash to start his business
Cash 2000 Capital 2000 Owner contributes 2000 to Capitalize the Business
Debit cashdebit assetsCredit owners capital
debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash
When business is started without cash then may be owner invested some kind of asset in business journal entry is as follows: [Debit] asset in kind [Credit] Owner's Equity
she invested P 50, 000 in cash to start his business
Cash 2000 Capital 2000 Owner contributes 2000 to Capitalize the Business
[Debit] Cash / bank [Credit] Owners capital
Debit cashdebit assetsCredit owners capital
debit drawingscredit cashDebit - Accounts Receivable - Owner Credit - Cash
debit- cash transfer to the account / credit- owner capital
Debit drawingsCredit cash /bank
debit assetsCredit liabilitiesCredit cash
[Debit] Truck account xxxx [Credit] Cash / bank xxxx
debit cashcredit capital
debit cash 50000credit capital 50000