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What is the journal entry to record franchise fees?
debit franchise feecredit cash /bank
What is the accounting journal entry to record stamp duty and fees imposed on the purchase of land?
Dr Land & Property Cr Bank
What is the accounting journal entry to record loan fees amortized?
Debit: Deferred loan origination fees Credit: Interest income
What is the accounting journal entry for directors fees?
DR DIRCTOR FEES CR Bank / ACCRUALS
What is the director fees journal entry?
The journal entry to record director fees typically involves debiting an expense account and crediting a liability account. For example, if a company owes $1,000 in director fees, the entry would be: Debit "Director Fees Expense" for $1,000 and Credit "Accrued Liabilities" (or "Accounts Payable") for $1,000. This reflects the expense incurred and the obligation to pay the director. When the payment is made, the liability account would then be debited, and cash would be credited.
What is the journal entry for revenue received from professional fees?
cash a/c debit fees a/c credit
How do you record a journal entry for a insufficient funds charge?
To record a journal entry for an insufficient funds charge, you would typically debit the bank fees expense account to reflect the cost incurred and credit the cash account to decrease the cash balance. For example, if the charge is $35, the entry would be: Debit Bank Fees Expense $35 and Credit Cash $35. This accurately reflects the expense and the reduction in cash due to the insufficient funds charge.
What is the accounting journal entry to record audit fees with VAT?
To record audit fees with VAT, you would make the following journal entry: Debit the "Audit Fees Expense" account for the net fee amount, debit the "VAT Input Tax" account for the VAT amount, and credit the "Accounts Payable" or "Cash" account for the total amount (audit fee plus VAT). For example, if the audit fee is $1,000 and VAT is $200, the entry would be: Debit Audit Fees Expense $1,000, Debit VAT Input Tax $200, and Credit Accounts Payable $1,200.
What is the journal entry of fees received?
Fees A/c Dr. To Cash A/c Cr.
How do you record a Intangible asset in journal entry?
To record an intangible asset in a journal entry, you typically debit the intangible asset account for the purchase price or cost incurred to acquire it. If applicable, you also debit any related costs, such as legal fees or registration costs. The corresponding credit would usually be made to cash or accounts payable, depending on how the asset was financed. For example, if a company purchases a patent for $10,000, the journal entry would be: Debit Patent $10,000 and Credit Cash $10,000.
What is the journal entry for fees earned?
Debit cash / bank / accounts receivableCredit fee income
Journal entry for revenue received from professional fees?
debit cashcredit professional fee revenue
