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What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
Final record of entry in a business' accounting system?
invoice
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
When payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
What is a journal entry where there is only one debit and credit?
A journal entry with only one debit and one credit is a basic accounting entry that records a transaction involving two accounts. For example, if a company receives cash of $1,000 for services rendered, the entry would debit the Cash account for $1,000 and credit the Service Revenue account for $1,000. This reflects the increase in cash and the corresponding increase in revenue, maintaining the accounting equation's balance.
For the modified accrual basis of accounting what would be the entry to record the purchase of an building?
For the modified accrual basis of accounting what would be the entry to record the purchase of an building?
What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
Final record of entry in a business' accounting system?
invoice
When payment is received for services not yet rendered no entry is recorded until that service has been rendered?
When payment received without services: Debit Cash / bank Credit Unearned revenue When services rendered: Debit Unearned Revenue Credit Services revenue
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
What is the accounting journal entry to record payment to bondholders?
debit bond holderscredit cash
What is the journal entry for shares of common stock issued for an amount worth of services rendered in organizing and chartering?
debit shares in companycredit services revenue
What is the accounting journal entry to record settlement charges?
Debit settlement chargesCredit cash /bank
What is the accounting journal entry to record connection fee?
Debit connection expensesCredit cash / bank
What is the accounting journal entry to record membership subscription fee?
debit subscription feecredit cash
How do you record drawings in accounting?
Drawings in accounting are recorded as a double entry in the cash book. This is a credit to the bank account and a debit to the cash account.
In double-entry accounting, where should you record money that is leaving your company to pay bills?
In double-entry accounting, money leaving your company to pay bills should be recorded in the accounts payable account.
