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Cash loaned to the company by a shareholder would be posted to the what Journal before being posted to the General Ledger.?
Cash
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.
Cash loaned to the company by a shareholder would be posted to the cash Journal before being posted to the General Ledger.?
Yes, cash loaned to the company by a shareholder would initially be recorded in the cash journal to reflect the increase in cash. After that, it would be posted to the General Ledger to update the appropriate accounts, such as a liability account for the loan. This process ensures accurate tracking of cash inflows and obligations in the company's financial records.
A check drawn by a depositor in payment of a voucher for 725 was recorded in the journal as 257 This item would be included in the bank reconciliation as an?
A check drawn by a depositor in payment of a voucher for 725 was recorded in the journal as 257, this item would be included in the bank reconciliation as a deduction from the balance. The error should be corrected by the depositor.
What is the journal entry for Cost of services provided I know the debit will decrease COGS but what will I credit I tried Salary Payable however there is not enough cash flow to pay out?
In this scenario, if you're recording the cost of services provided (like salaries or service expenses) without immediate cash payment, you would debit the appropriate expense account (e.g., "Service Expense" or "Salaries Expense") to recognize the cost. You would then credit a liability account, such as "Accrued Liabilities" or "Salaries Payable," to indicate that you owe this amount but have not yet paid it. This shows the expense incurred while reflecting the obligation to pay in the future.
Cash loaned to the company by a shareholder would be posted to the what Journal before being posted to the General Ledger.?
Cash
What would be the journal entry of payment?
Debit expense or accounts payableCredit cash / bank
Which journal entry records payment for supplies?
Debit supplies inventoryCredit cash / bank
How quickly will a payment post to your credit card account when you use visa online bill payment options?
a payment will post immediately to your account as long as it was posted before Friday at midnight. if you posted on Saturday it would take until monday morning to post to the 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.
Cash loaned to the company by a shareholder would be posted to the cash Journal before being posted to the General Ledger.?
Yes, cash loaned to the company by a shareholder would initially be recorded in the cash journal to reflect the increase in cash. After that, it would be posted to the General Ledger to update the appropriate accounts, such as a liability account for the loan. This process ensures accurate tracking of cash inflows and obligations in the company's financial records.
A check drawn by a depositor in payment of a voucher for 725 was recorded in the journal as 257 This item would be included in the bank reconciliation as an?
A check drawn by a depositor in payment of a voucher for 725 was recorded in the journal as 257, this item would be included in the bank reconciliation as a deduction from the balance. The error should be corrected by the depositor.
What would the journal entry be for payment received for goods previously sold on credit?
debit cash / bankcredit accounts receivable
What is the journal entry for Cost of services provided I know the debit will decrease COGS but what will I credit I tried Salary Payable however there is not enough cash flow to pay out?
In this scenario, if you're recording the cost of services provided (like salaries or service expenses) without immediate cash payment, you would debit the appropriate expense account (e.g., "Service Expense" or "Salaries Expense") to recognize the cost. You would then credit a liability account, such as "Accrued Liabilities" or "Salaries Payable," to indicate that you owe this amount but have not yet paid it. This shows the expense incurred while reflecting the obligation to pay in the future.
What is Personal Emolument?
Personal Emolument is the payment of pensions, allowances, gratuities and salaries to those who work with the government. This position would be civil servants and government officials.
Cash received as PROMPT payment under 310 Net 30 terms would be posted in the what accounts.?
Cash received as prompt payment under 310 Net 30 terms would typically be posted in the Cash account, reflecting the increase in cash assets. Additionally, it would also affect the Accounts Receivable account by reducing the outstanding amount owed by customers. If there are any discounts taken for the prompt payment, those would be recorded in a Discounts Allowed or Sales Discounts account.
How much payment get for director of company?
The payment you would get for being the director of a company would vary from each company. While many companies can afford to pay large salaries, other smaller companies cannot. The director of a company would be paid fairly based upon the income the company has.
