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What would be the entry on subscribed capital stock?
Generally in the format of: Cash (cash paid up front) Common Stock Subscribed Receivable (remaining amount due) Common Stock Subscribed (Temporary 'Legal Capital' Account) Additional Paid In Capital - Common When fully paid, post: Cash (cash paid) Common Stock Subscribed Receivable Common Stock Subscribed Common Stock
How do you post journal entry for employee health insurance paid by employer?
debit employee health insurancecredit cash / bank
What is office maintenance in accounting?
What entry can we post to Office Maintenance Account in accounting
Where to post dividends received?
Dividends received should be recorded in your accounting or financial records under the income section. If you're using accounting software, categorize them as "Dividend Income." In personal finance, you can record them in your investment tracking spreadsheet or app, ensuring you note the date, amount, and the source of the dividends for tax reporting purposes. Always consult with a tax professional for specific reporting requirements.
What are the steps in the accounting cycle?
The 8 steps in an accounting cycle areRecord transactions in journal.Post transactions to ledger accounts.Prepare adjusting entries at end of fiscal period and post to ledger accounts.Prepare summary of account balances.Prepare income statement from revenue and expense account balances.Close revenue and expense accounts to Retained Earnings.Prepare post-closing summary of account balances.Prepare balance sheet and statement of cash flows.
Where does the dividend go in its postintion?
In its post-issue position, a dividend typically reduces the retained earnings of a company, as it represents a distribution of profits to shareholders. The dividend payment is made from the company's available cash or reserves and is recorded as a liability until it is paid out. After the payment, the cash balance decreases, and the retained earnings on the balance sheet reflect the reduction. Ultimately, dividends serve to return value to shareholders while impacting the company's equity structure.
Who posts cash deposits and post payments to customer accounts?
Your banking institution or the payee's accounting department.
What account would you post cash paid into business by investor?
debit cash credit stockholder equity if business is a corporation
What would be the entry on subscribed capital stock?
Generally in the format of: Cash (cash paid up front) Common Stock Subscribed Receivable (remaining amount due) Common Stock Subscribed (Temporary 'Legal Capital' Account) Additional Paid In Capital - Common When fully paid, post: Cash (cash paid) Common Stock Subscribed Receivable Common Stock Subscribed Common Stock
How do you post journal entry for employee health insurance paid by employer?
debit employee health insurancecredit cash / bank
What is office maintenance in accounting?
What entry can we post to Office Maintenance Account in accounting
Where can you cash a postal money order?
you can cash it at the post office fyi: I tried to cash a post office money order at Bank of America, they won't cash them. go figure.
Where to post dividends received?
Dividends received should be recorded in your accounting or financial records under the income section. If you're using accounting software, categorize them as "Dividend Income." In personal finance, you can record them in your investment tracking spreadsheet or app, ensuring you note the date, amount, and the source of the dividends for tax reporting purposes. Always consult with a tax professional for specific reporting requirements.
What are the steps in the accounting cycle?
The 8 steps in an accounting cycle areRecord transactions in journal.Post transactions to ledger accounts.Prepare adjusting entries at end of fiscal period and post to ledger accounts.Prepare summary of account balances.Prepare income statement from revenue and expense account balances.Close revenue and expense accounts to Retained Earnings.Prepare post-closing summary of account balances.Prepare balance sheet and statement of cash flows.
If you received 600 from a client on account where would you post it?
It depends on whether the client owes you money and what basis of accounting you use. If the client owes you money and you use the accrual basis then it posts as an increase (debit) to Cash and a decrease (credit) to accounts receivable. If they are paying in advance for future work then it's an increase (debit) to cash and a increase (credit) to deferred revenue. If you are on cash basis then you increase cash and revenue.
How do you post dividends?
There are three important dates when dealing with dividends. When the Board of Directors "declares" the dividend, the business has a legal obligation to pay the dividend to the shareholders. The posting on this date is Dr. Dividends Cr. Dividends Payable - to record dividend declared by the Board of Directors The next date is the "record" date. This determines who gets the dividends. Those that own the shares on the record date will receive the dividend. No posting is required on the record date. The final date is the "payment" date. This is the date the business writes the cheques to the holders of the shares on the record date. Dr. Dividends Payable Cr. Cash - to record payment of the dividend When the Board of Directors announces the dividend, it will state the record date and payment date.
How will a post-dated cheque issued to a creditor be treated in the Balance Sheet?
Accounting ProceduresGenerally accepted accounting principles (GAAP) and cash accounting methods treat post-dated checks the same way---no journal entry recording. A post-dated check is essentially a promise to pay, and until the business partner pays or reimburses amounts owed, no change is made in accounting books. To illustrate, an accounting clerk receives a $45,000 post-dated check negotiable in one week. She cannot debit cash (asset) and credit sales revenue or accounts receivable to record this transaction because no payment is made. She can, however, write a memo about the post-dated check in the accounting ledger. (Bookkeepers debit asset accounts to increase their balances and credit revenues to increase their amounts). If the check clears the customer's bank after one week, the clerk may then record journal entries in the sales ledger.Financial Statement RulesPost-dated checks do not affect financial statement accounts, but regulatory guidelines and industry practices require a company to reveal significant amounts that it expects from customers at future dates. These amounts may relate to post-dated checks or promissory notes. GAAP requires a corporation to prepare accurate and complete financial statements that indicate such arrangements. Complete financial records include balance sheet, statement of profit and loss (P&L), statement of cash flows and statement of retained earnings.
