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Does a increase in salaries payable decrease cash?
Increase in salaries payable increases the cash account as cash is not paid and due to non payment of cash, cash account showing more balance then it would be if salaries paid already.
What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
What is the difference between a prepaid account and an accrual account?
In prepaid accounts cash is paid before and benefits are taken later while in accrual accounts benefits are taken before but cash is paid later.
Do the words account payee only exclude the transferability of the cheque?
No. It actually means that the cheque can be paid out only to a bank account and will not be paid out as cash to the person who has the cheque
How do you record journal entry for cash?
if cash received then cash is debit while if cash is paid then cash is credit with other account towards which payment made or amount received.
Does a credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does credit to accounts payable represents cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does a credit to accounts payable represent cash paid to creditors?
No actually... Cash paid to credits should credit cash account and debit payable account
Does a increase in salaries payable decrease cash?
Increase in salaries payable increases the cash account as cash is not paid and due to non payment of cash, cash account showing more balance then it would be if salaries paid already.
Can a hold be put on a check after it is deposited in another account?
Yes - If your bank has not yet paid the cash No - If your bank has already paid the cash
What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
When cash is paid to suppliers on account which section of the statement of cash flow is affected?
cash flows from operating activities
What is the difference between a prepaid account and an accrual account?
In prepaid accounts cash is paid before and benefits are taken later while in accrual accounts benefits are taken before but cash is paid later.
If you own a company and you give the company cash and equipment in exchange for common stock how is that listed on the companies spreadsheet?
In a cash-for-equity situation: * Increase the cash account by the amount of cash given * Increase the paid in capital account by the amount of cash given In an equipment-for-equity situation: * Increase the fixed assets account by the net value of the equipment (after depreciation to date) * increase the paid in capital account by the net value of the equipment
Do the words account payee only exclude the transferability of the cheque?
No. It actually means that the cheque can be paid out only to a bank account and will not be paid out as cash to the person who has the cheque
How do you record journal entry for cash?
if cash received then cash is debit while if cash is paid then cash is credit with other account towards which payment made or amount received.
What account would you post cash paid into business by investor?
debit cash credit stockholder equity if business is a corporation
