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A contra purchase account
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∙ 11y ago
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Account type of purchase returns and allowances?
debit
What type of account is purchases lost?
Expense account
What type of account is purchase returns?
credit card
What is the type of account when a company holds dollar account in an Indian bank?
This type of account is called "foreign currency account".
What type of account is a building?
Building account is nominal account.
Account type of purchase returns and allowances?
debit
A sales return for credit on account would be recorded in what type of journal?
General Journal Sales Returns and Allowances - A company with sales returns and allowances can record them in the General Journal.
What type of account is purchases lost?
Expense account
What are the different type of control account?
sales control account purchases control account
What type of account is purchase returns?
credit card
What does a CD savings account do for me?
A CD savings account might earn money for you. This type of savings account earns interest for the person who purchases the CD.
What is a flooring account in relation to financing?
A flooring account is a type of short-term financing that is used specifically for equipment purchases. It is often referred to in the IT industry regarding credit lines for computer equipment purchases.
What type of allowances does the first lady get?
incourage
What type of property is authorized to a unit by a modification table of organization and equipment deployable table of distribution and allowances or a common table of allowances?
Organization
How does purchases on account affect the balance sheet?
Purchases on account increases both Assets and Liabilities. Since a purchase on account becomes and account payable it is a liability account and the company's liabilities will increase the amount of the purchase. More than likely the purchase is for some type of equipment or supplies the company needs to operate and therefore is an asset to the company and that asset will increase by the same amount. Let's say Company X purchases $5,000 in supplies from company Z on account, Company X will record the transaction as follows. Supplies (dr) $5,000 Acc.Pay. Comp. Z (cr) $5,000 Remember Assets = Liabilities + Equity Assets increase with a debit Liabilities and Equity increase with a credit.
Why don't my account show the answers I have given?
Depending on the type of account that you are using the reasons answers may not show up is that the information was improperly saved. The user can also try to reboot to see if previously stored information returns upon reopening.
Which type of tax is common with Internet purchases?
use tax (A+)
