0
What is the proper journal entry for purchasing a computer on account?
Wiki User
∙ 10y ago
Add your answer:
Earn +20 pts
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
Why is Journal Proper called Journal Proper?
because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book
What is the proper way to enter transactions into a general journal?
hmmm
What disadvantages do control account offer?
danger of computer fraud if proper level of security and control whether internal and external are not properly being instituted.
What is suspence account?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
What accounts might be placed first in a proper journal entry?
Typically, the accounts that are credited are placed first in a journal entry, followed by the accounts that are debited. The credit account is listed on the first line with the credit amount, and the debit account is listed below with the debit amount.
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
What is proper journalism?
The Journal Proper is the record both in which miscellaneous credit transactions are entered that do not fit in other books. It is also called the Journal Residual or the General Journal.
Is journal proper noun?
Yes.
Difference between journal journal proper?
A journal is a chronological record of financial transactions, organized by date. Journal proper refers to the book of original entry where miscellaneous transactions that do not fit in any other specialized journal are recorded. In essence, the journal proper is a catch-all journal for transactions that do not have a specific journal category.
Is journal word proper noun?
Yes.
Is journal a common noun?
Yes, the word journal is a common noun, A proper noun would be the name of a journal, for example, The Journal of the American Medical Association.
Why is Journal Proper called Journal Proper?
because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book because it is the only subsdiary book where proper journal entries are passed . those entries which could not have been passed in any other subsdiary book
What is the proper way to enter transactions into a general journal?
hmmm
What is the suspense capital?
A suspense account is an account in the general ledger in which amounts are temporarily recorded. The suspense account is used because the proper account could not be determined at the time that the transaction was recorded. When the proper account is determined, the amount will be moved from the suspense account to the proper account.
What is pre-installed software piracy?
This happens when a computer manufacturer takes one copy of the software and illegally installs it on more than one computer. We should always look for proper license documentation while purchasing a new PC.
Accounting where would you put a bad debt entry?
In the Journal Proper
