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deposit account (asset) = dr
bank =cr
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What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
What is the accounting journal entries for penalties and interest an taxes?
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
Journal entries for goods sold but paid by cheque?
rent a/c dr. To bank ac.
Do you put a Security Deposit on the Balance Sheet?
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
What are the journal entries if the source of paid up capital are loans?
debit bankcredit capital
What are the accounting journal entries to record paid on account?
Debit accounts payableCredit cash / bank
What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
How do you make journal entries on provision on interest on fixed deposit?
To make a journal entry for provision on interest on fixed deposit, you would debit the Provision for Interest on Fixed Deposit account to recognize the expense and credit the Interest Income account to reduce the income earned on the fixed deposit. This adjustment ensures that the financial statements reflect the estimated liability for future interest payments accurately.
What is the accounting journal entries for penalties and interest an taxes?
The accounting journal entries for penalties and interest on taxes will go in the debit and credit columns. You debit the expense account and credit the liability account until the penalties and interest is paid.
What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
Journal entries for goods sold but paid by cheque?
rent a/c dr. To bank ac.
What is the journal entry when customer paid deposit for accrued sales?
debit cash / bankcredit accounts receivable
How do you add Thumbnail pictures to journal entries on Deviant art?
You have to have a subscription - a paid for account , and on the image that you want there should be a URL and Thumbnail , use the ThumbNail code and copy and paste it into your journal
Do you put a Security Deposit on the Balance Sheet?
Yes. If it is a deposit paid to a vendor, then it will be classified as an asset. If it is a deposit received from a customer, then it is a liability. Depending on when it is expected to be returned, you will classify it as either current or non-current.
Is deposit acredit or debit?
If it is customer deposits then it is liability of business to be paid then its balance is credit but if it is deposit with other companies or in bank then it is asset of business and default balance is debit balance.
What is the journal entry of bought a three year insurance policy and paid in full?
[Debit] Insurance policy Asset [Credit] Cash / bank
