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Subjects>Business>Accounting

What is the journal entry for selling equipment?

Updated: 9/14/2023

Wiki User

∙ 9y ago

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no cash dr and sales cr

Wiki User

∙ 9y ago

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Wiki User

∙ 9y ago

debit cash
credit equipment

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How do you write Journal entry for equipment rent to somebody?

There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.

How do you record a journal entry for sale of equipment?

Debit cash / bankCredit equipment

What is a journal entry to buy equipment with common stock?

Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank

How do you do a journal entry for sale of equipment with a promissary note?

debit equipment accountcredit promisary note

What is the journal entry for paying off an equipment loan?

debit equipment loancredit cash / bank

Related questions

How do you write Journal entry for equipment rent to somebody?

There is no journal entry when equipment rented out to somebody as there will be entry when actual rent received.

What is journal entry owner widraws equipment from business?

debit drawingscredit equipment

How do you record a journal entry for sale of equipment?

Debit cash / bankCredit equipment

What is a journal entry to buy equipment with common stock?

Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank

How do you do a journal entry for sale of equipment with a promissary note?

debit equipment accountcredit promisary note

What is the journal entry when the owner withdraw equipment for personal use?

debit drawingscredit office equipment

What is the journal entry for paying off an equipment loan?

debit equipment loancredit cash / bank

How do you record a journal entry for donating equipment?

debit equipment accountcredit donation

What is the journal entry of selling costs?

Debit cost of salesCredit cash / bank

How do you record a journal entry for a purchace of equipment at a fire sale?

debit equipment accountcredit cash / bank

What is journal entry for equipment purchase made with cash?

debit equipmentcredit cash

What is the journal entry for accepting a donated piece of equipment?

debit equipmentcredit donation

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