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If extraordinary loss is on a/c of furniture & fixtures, then instead of crediting purchases, furniture & fixtures should be credited.
Wiki User
∙ 8y ago
Wiki User
∙ 9y agodebit extra ordinary loss
credit purchases
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Pass the journal entry for loss by theft?
loss by theft A/c to purchases
What is journal entry for unrealized loss?
Debit loss accountCredit cash / bank
What is the journal entry for goods lost in fire?
debit loss by firecredit purchases
What is journal entry of closing stock?
it s transfer to profit and loss account.
What will be the journal entry for good lost by fire How?
debit loss by firecredit goods inventory
Pass the journal entry for loss by theft?
loss by theft A/c to purchases
What is journal entry for unrealized loss?
Debit loss accountCredit cash / bank
What is the journal entry for the sle of an assett at a loss?
Debit cash / bankdebit loss on saleCredit fixed asset
What is journal entry of closing stock?
it s transfer to profit and loss account.
What is the journal entry for goods lost in fire?
debit loss by firecredit purchases
What will be the journal entry for good lost by fire How?
debit loss by firecredit goods inventory
What is the Journal entry for loss on sale of equipment?
[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx
What should be Journal entry for creation of general reserve?
Reserves always created from profit. Therefore the Journal entry will be for creating reserves Dr Profit & Loss A/c CR Reserve A/c
What is journal entry if fixed assets lost by theft?
debit loss of assetcredit fixed asset
What is the journal entry for profit transfer from profit and loss account to balance sheet?
Debit profit and loss accountCredit owners capital
What is the journal entry for goods lost by fire?
Abnormal loss of goods a/c dr. To purchases a/c
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
