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What is the first step in posting either a debit or a credit entry from the journal to the ledger is to transfer what?
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Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
How do you make a journal entry for a sale return for damaged goods?
You would debit either sales returned or directly to sales deppendibg on the company procedure. You would then credit either the customer account in accounts receivable or bank if it was a cash transaction. Deppendibg on whether you are going to record the stock movement as well you should debit stock and credit cost of goods sold (this should be at the lower of cost or selling price).
What do you call a journal entry with two or more credits and debits?
Journal entry with two or more debits and credits is called "Compound Journal Entry" because either in one transaction or more than one transactions are join together in one journal entry.
how does the credit card payment system work?
When you authenticate a payment on a card, the merchant's payment system will send a request to the card issuer to ensure that funds are available either in the account or in credit. The card issuer will supply an authentication code to the merchant approving the transaction. The card issuer will then arrange for the transfer of funds to the merchant's bank.
How does EFT OPS work?
Assuming you mean EFTPOS (Electronic Funds Transfer Point Of Sale)... The customer uses either a credit or debit card to pay for goods. The card is 'read' by the cashier's register, and an electronic 'request' is sent to the customer's bank. If the funds are available (or the card has enough credit) - the funds are transferred from the customer's account to the store's account.
The first step in posting either a credit entry from the journal to the ledger is to transfer the?
Date
How would one define a credit card balance transfer?
A credit card balance transfer means one can transfer the balance of one credit card into another. One can transfer either all the funds or only a portion. For further information, one can contact the credit card company.
What does transferring credit card balance to new card do to credit?
Generally, after two (2) months, the balance transfer from one card to another only minorly impacts one's credit. The key is the additional or new account and the utilization of the line on the account. If you transfer a balance to a NEW account as part of the application/onboarding process, your credit score will be reduced. If you transfer a balance to an EXISTING account that you don't use regularly, your credit score will be reduced. If you transfer a balance to an EXISTING account that you use on a regular basis, your credit score will either remain the same or be reduced.
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
What is Compound Entry?
A compound journal entry is an accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits. It is essentially a combination of several simple journal entries; they are combined for either of these reasons:
What is a credit card balance A?
It is the balance on your account, indicating either how much money you owe or if you have some money in the account.
How do you write A compassionate transfer letter?
A transfer letter can either come from an employer requesting that the employee transfer, or an employee requesting to transfer. In either case show compassion by thanking them for all that they have done in the past.
What becomes of the brokenhearted?
They either recover or spend the rest of their lives posting angry Youtube comments.
What is the journal entry for legal expenses?
To record legal expenses in a journal entry, you would debit the Legal Expenses account and credit either Cash or Accounts Payable, depending on whether the expense was paid immediately or is still outstanding. This entry helps to accurately track and report legal costs incurred by the business.
When will a 2000 Chapter 7 in California be removd from my credit?
Chapter 7 is on your credit report for 10 years, so a 2000 case should come off in 2010. If it doesn't come off on its own, you can do a dispute form with the credit reporting agencies, either paper or online, and have them remove it. Please note that nothing in this posting or in any other posting constitutes legal advice; this is simply my understanding of the facts and law, which I do not warrant, and I am not suggesting any course of action or inaction to any person. Speak to a lawyer for specific advice. If you have any questions, please refer to a lawyer in your jurisdiction. Thanks!
What is the Scottish Gaelic word for a journal?
If you mean a journal as in a diary it would be leabhar-latha, if you me journal as in a newspaper or a trade journal, it would be pà ipear-là itheil.I'm not good enough with my spoken Gaelic to be able to tell you how either would be pronounced tho.
How do you make a journal entry for a sale return for damaged goods?
You would debit either sales returned or directly to sales deppendibg on the company procedure. You would then credit either the customer account in accounts receivable or bank if it was a cash transaction. Deppendibg on whether you are going to record the stock movement as well you should debit stock and credit cost of goods sold (this should be at the lower of cost or selling price).
