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Where is the information obtained to journalize adjusting entries?
figure it out yourself and then let me know cause i have no idea :(
Why is it necessary to journalize and post adjusting entries?
The worksheet is only a tool that aids in the preparation of financial statements. Any changes in account balances recorded on the worksheet are not shown in the general journal and the general ledger until the adjusting entries have been journalized and posted.
My corporation issue 2000 shares of no-par common stock at a cash price of 9.00 per share how do you journalize the issuance of the share?
Debit "Cash" for $18,000 and credit "Equity - Common Stock" for $18,000.
What are the journal entries to record the exchange of common stock?
debit common stock of one typecredit common stock of other type
What are the journal entries when you want to transfer stock from one company to another separate company?
debit stock in other companycredit stock inventory
Where is the information obtained to journalize adjusting entries?
figure it out yourself and then let me know cause i have no idea :(
How do you journalize adjusting entry license future year?
Journal Entries recorded to update general ledger accounts at the end of a fiscal period are called adjusting entries.
Why is it necessary to journalize and post adjusting entries?
The worksheet is only a tool that aids in the preparation of financial statements. Any changes in account balances recorded on the worksheet are not shown in the general journal and the general ledger until the adjusting entries have been journalized and posted.
My corporation issue 2000 shares of no-par common stock at a cash price of 9.00 per share how do you journalize the issuance of the share?
Debit "Cash" for $18,000 and credit "Equity - Common Stock" for $18,000.
What are the journal entries to record the exchange of common stock?
debit common stock of one typecredit common stock of other type
What are the journal entries when you want to transfer stock from one company to another separate company?
debit stock in other companycredit stock inventory
What are the accounting journal entries for the redemption of common stock?
Debit common stockCredit redemption of common stock account
What are the accounting journal entries to record common stock redemption?
Debit common stockCredit redemption of common stock account
What are the accounting journal entries to record depositing cash for common stock?
[Debit] Cash /bank [Credit] Common Stock
How do you journalize share transactions?
To journalize share transactions, you first identify the accounts affected and determine the transaction's nature, whether it's the issuance of new shares, the sale of treasury stock, or the repurchase of shares. For issuing shares, you typically debit cash or other assets received and credit common or preferred stock at par value, with any excess credited to additional paid-in capital. In the case of treasury stock transactions, you debit the treasury stock account and credit cash for the amount paid. Each entry must include the date, account titles, and a brief description of the transaction.
Which sequence correctly summarizes the accounting process?
1. Journalize transactions, Post to the accounts, Prepare a trial Balance. 2. Post to the accounts, Journalize transactions, Prepare a trial Balance. 3. Prepare a trial Balance, Journalize transaction, Post to the accounts
What are the double entries for closing stock at the end of a financial year?
double entry for closing inventory?
