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What is the journal entry for withdrawing cash from a drwing account?
Debit drawingsCredit cash
What is the journal entry for parent company paid rent to holding company?
Parent company journal entry Debit cash | Credit accounts payable - rent Holding company journal entry Debit accounts receivable - rent | Credit cash
Paid 600 to Royal Company on account. what is the journal entry of this transaction?
The journal entry is Account Payable - Royal Company (debit) 600 Cash (credit) 600
What is journal entry for investing 30000 in cash?
[Debit] Investment in company 30000 [Credit] Cash 30000
What is the Journal Entry if a company paid cash for this months utilities?
Debit Utilities expense Credit Cash
What is the correct journal entry of receiving a company bonus?
Debit bonusCredit cash / bank
What is the journal entry if a company pays the debts of another company?
Debit investment in other companyCredit cash / bank
Make a journal entry for a company being purchased?
debit Assetscredit liabilitiescredit cash (if any)
What is the journal entry when purchasing a company?
Debit assetsCredit liabilitiescredit cash / bank (balance amount)
What is the journal entry for payment made to creditor?
The journal entry for payment made to a creditor typically involves debiting the accounts payable account to reduce the liability and crediting the cash account to reflect the outflow of cash. For example, if a company pays $1,000 to a creditor, the entry would be: Debit Accounts Payable $1,000 Credit Cash $1,000 This entry decreases both the company's liabilities and its cash balance.
What is the journal entry a company would record when it purchases equipment and pays cash?
[Debit] Equipment account [Credit] Cash / bank
How do you pass journal entry if company take the loan from bank?
debit cash / bankcredit loan from bank
