[Debit] Furniture
[Credit] Cash / bank
Furniture will be debited and cash will be credited.
find out the accounts involed in eash of the following cases Q:- machinery purchased for cash. Q:- furniture is purchased on cresit
Furniture a/c dr. To capital a/c
furniture a/c dr to cash a/c
There is no journal entry for unsubscribed capital as this is that portion of capital which is company has offered to shareholders for purchase but nobody has purchased that capital so no transaction incurred and hence no journal entry required.
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
[Debit] Office furniture [Credit]Owner equity / Retained Earnings
find out the accounts involed in eash of the following cases Q:- machinery purchased for cash. Q:- furniture is purchased on cresit
Furniture a/c dr. To capital a/c
Furniture is depreciated as it is tangible assets while intangible assets are amortized.Debit depreciationCredit Furniture
furniture a/c dr to cash a/c
There is no journal entry for unsubscribed capital as this is that portion of capital which is company has offered to shareholders for purchase but nobody has purchased that capital so no transaction incurred and hence no journal entry required.
There is no entry for receiving invoice from suppliers rather entry is made when goods purchased from suppliers.
debit goatCredit cash
debit household furniturecredit cash / bank
Debit supplies accountCredit bank account
[Debit] Gift purchased [Credit] Cash / bank
[Debit] Goods Purchased xxxx [Credit] Cash / bank / accounts payable xxxx