0
When a partner pay his house electricity bill from his business what is journal entry?
Wiki User
∙ 12y ago
drawings a/c ..dr
to cash a/c
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the journal entry for additional capital bought to business by partner?
the Journal entry for Additional capital brought to business partner Capital A/c Dr. To Partner Capital A/c
What is the journal entry of electricity bill?
Debit electricity expensesCredit cash / bank
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
When is journal entry made?
Journal entry is made as soon as when any business transaction occur in business.
Why do you pass an journal entry?
For the recording of journal entry, it is mandatory to be business transaction occurred already otherwise no journal entry can be made prior to occurrence of business transaction.
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
What is journal entry in accounts?
recording of business transaction in chronological order is a journal entry
What is the journal entry for electricity payable?
Debit electricity expensesCredit expenses payable
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is the journal entry payment of electricity bill by cheque?
debit electricity billcredit bank
Is journal entry passed when PO is booked?
No journal entry required when PO is generated as no business transaction has occurred.
What is journal entry of electricity charges?
Debit electricity chargesCredit cash /bank / accounts payable
