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When a bond issued at face value is retired what is the journal entry?
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What is the journal entry for par value issued to shareholders?
debit cash / bankcredit shares in share capital account
What is a compound entry?
Accounting: A journal entry that has more than one debit or credit value
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
Journal entry for sales and sales return?
Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
What is the journal entry for par value issued to shareholders?
debit cash / bankcredit shares in share capital account
What is a compound entry?
Accounting: A journal entry that has more than one debit or credit value
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
Journal entry for sales and sales return?
Journal entry for booking a sale:Accounts Receivable/Party [Debit] $value$Sales [Credit] $value$Tax on sales (GST. excise, etc.) [Credit] $value$Primarily, it is a reversal of the entry passed at the time of booking the sale:Sales [Debit] $value$Tax on sales [Debit] $value$(GST. excise, etc.)Accounts Receivable/Party [Credit] $value$
What is journal entry for fixed assets received as gift?
When fixed assets are received as a gift, the journal entry would typically be: Debit - Fixed Asset (at fair value) Credit - Donation Revenue (at fair value) This recognizes the receipt of the fixed asset at its fair value and records the donation revenue for the fair value of the gift.
What is journal entry for market price of stock?
stock is recorded at book value and not on market price in original books of accounts
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
Journal entry for Issuing Par Value Common Stock to another company?
[Debit] Cash / bank [Credit] share capital
Journal entry to reflect cash dividends from retained earnings?
The name for journal entries that reflect cash dividends from retained earnings is closing entries. This also reflects book value and cash flow.
How do you make a journal entry recording a cash discount of 10000 when you make a payment of 20000 early at the request of the seller?
Cash discount is expenses of trading account but this is not an expenses just like a scheame on spot given to the purchaser. So no seprate discount entry need in journal. just reduce discount amount in total value and entry it.
What are the accounting entries for free shares?
You would make the journal entry the same way you would make it if they were not free shares. You would use the estimated or known value of the free shares to make the entry.
What is the journal entry for exchanged 5000 shares of common stock for a patent value at 92000?
debit patent 92000credit shares in share capital 92000
