My account balance in Construction LOC is $154833.00; what is the journal entry to record the $154833 in Construction in Progress Account?
roger_randolph@Yahoo.com
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
Journal's are an important element in terms of accounting.It is said so because the journal records and shows the transactions made by the firm during a particular year.journal is the book where they record the primary and first handed entries.It is from this journal entries they make other entries in the book of ledger,trial balance..etc..If any entry in the journal goes wrong then the whole matter will go wrong.....All the best....keep gionging.....
journal entries recorded to update general ledger accounts at the end of a fiscal period. it is made to prevent or correct errors that may happen in the system. To see how to make an adjusting entry, visit: http://www.accounting7.com/content/exercise-adjusting-account-entries-accounting
Are the payment for cash(people who came and buy for cash ) Any entry can be posted into the general journal. It is really messy and long to post the stuff in the sales, sales returns and allowances, purchases and purchases returns and allowances jounal into the general jounal so those journals are created to make things easier. So basically, any entries that are posted to the cash payments journal can be posted to the general journal.
It is important to make adjusting journal entries as there may be some mistakes in original entries or company may created accrual entries which needs adjustments at the end of month or accounting period.
L/C related all journal entries
It is important to record adjusting entries as if it is not done then there is no accurate financial statements will be available.
i need your help about entries of service tax, optional voucher, journal voucher, memo vouchers in tally 7.2
Debit income tax expensesCredit cash / bank
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
You can make your journal entries meaningful by really writing down your feelings. It doesn't matter if it's good or bad because by making it personal it will be meaningful. You could also include pictures, lyrics, quotes etc that you really like.
Journal's are an important element in terms of accounting.It is said so because the journal records and shows the transactions made by the firm during a particular year.journal is the book where they record the primary and first handed entries.It is from this journal entries they make other entries in the book of ledger,trial balance..etc..If any entry in the journal goes wrong then the whole matter will go wrong.....All the best....keep gionging.....
journal entries recorded to update general ledger accounts at the end of a fiscal period. it is made to prevent or correct errors that may happen in the system. To see how to make an adjusting entry, visit: http://www.accounting7.com/content/exercise-adjusting-account-entries-accounting
Accountants make correcting entries when they find errors. There are two ways to make correcting entries: reverse the incorrect entry and then use a second journal entry to record the transaction correctly, or make a single journal entry that, when combined with the original but incorrect entry, fixes the error.Adjusting entries should not be confused with correcting entries, which are used to correct an error. That should be done separately from adjusting entries, so there is no confusion between the two, and a clear audit trail will be left behind in the books and records documenting the corrections.
you can make your journal entries meaningful by really writing down your feelings.it doesn't matter if it's good or bad because by making it personal it will be meaningful.you could also include
Closing journal entries are dated as of the last day of the financial year that you are closing. For example, it you use a calendar year and are closing the period from January 1, 2012 through December 31, 2012, your closing entries would be as of "December 31, 2012." If you had a fiscal year which ran (for example) from October 1, 2011 through September 30, 2012, your "fiscal year 2012" closing entries would be dated "as of" September 20, 2012, because that is the last day of the financial year that you are closing, even if you physicially make the entries after that date.