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What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
What is the journal entry for deferred revenue?
As it is a advance receipt the journal entry would be cash dr. to deferred revenue
What would the journal entry be to accrue for 2007 accounting expenses that won't be received until 2008?
12/31/07 Debit Professional Fees, Credit Accrued Expenses.
What is the journal entry for legal expenses?
To record legal expenses in a journal entry, you would debit the Legal Expenses account and credit either Cash or Accounts Payable, depending on whether the expense was paid immediately or is still outstanding. This entry helps to accurately track and report legal costs incurred by the business.
Is a journal entry from the past summer a secondary source?
It depends. If it is your journal, or you are quoting from a journal you have actually seen, then no. A secondary source would be a newspaper report of that journal entry, for example. Unless the journal entry is stating something read or seen elsewhere, then it WOULD be a secondary source.
What would the journal entry be if expenses are paid out of personal cash?
I think that you mean a debit which goes on the left side of the journal or in your record book
How would you do a Henry Hudson Journal entry?
Henry Hudson never really had a journal that we know of
What is journal entry of the fuel refilling?
The journal entry for fuel refilling would involve debiting the fuel expense account to recognize the cost of fuel purchased and crediting the cash or accounts payable account to show the payment made or liability incurred. This transaction reflects an increase in expenses and a decrease in cash or an increase in accounts payable.
How would you make a journal entry for a repurchased shares in a journal?
Debit treasury stockCredit cash / bank
Accounting where would you put a bad debt entry?
In the Journal Proper
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What is the journal entry for unused travel expenses paid in advance?
you would label it as a prepaid expense. Debit -prepaid travel expense credit- cash
