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Debit assets
Credit Accounts Payable
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What is the journal entry for purchase of an asset?
[Debit] Asset Account xxxx [Credit] Cash / bank account xxxx
What is the difference between purchase voucher and journal voucher?
if we purchase assets on credit then we will pass its entry in journal voucher n if we buy anything other then asset related to our business then we will go for purchase voucher..........
What is the Journal entry to purchase of an asset?
debit assetscredit cash / bank
What is the journal entry for asset received as gift?
debit asset credit bank
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
What is the journal entry for purchase of an asset?
[Debit] Asset Account xxxx [Credit] Cash / bank account xxxx
Journal entry for new car purchase?
[Debit] Car Asset [Credit] Cash / bank
What are the journal entry for asset revaluation?
debit asset and credit asset revaluation
What is the difference between purchase voucher and journal voucher?
if we purchase assets on credit then we will pass its entry in journal voucher n if we buy anything other then asset related to our business then we will go for purchase voucher..........
What is the journal entry for a cash purchase?
Debit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash acct
What is the Journal entry to purchase of an asset?
debit assetscredit cash / bank
What is the journal entry for asset received as gift?
debit asset credit bank
What is journal entry for depreciation?
[Debit] Depreciation account [Credit] Asset account
How do you record a Intangible asset in journal entry?
To record an intangible asset in a journal entry, you typically debit the intangible asset account for the purchase price or cost incurred to acquire it. If applicable, you also debit any related costs, such as legal fees or registration costs. The corresponding credit would usually be made to cash or accounts payable, depending on how the asset was financed. For example, if a company purchases a patent for $10,000, the journal entry would be: Debit Patent $10,000 and Credit Cash $10,000.
What is the journal entry for purchase returns?
[Debit] Purchase Return [Credit] Purchases
What is the journal entry when the owner withdraw his asset?
Drawings A/c (debit) TO Asset A/c (credit)
What is the journal entry for fixtures and fittings?
The journal entry for fixtures and fittings typically involves debiting the Fixtures and Fittings account and crediting the Cash or Accounts Payable account, depending on whether the purchase was made in cash or on credit. For example, if you purchase fixtures for $5,000 in cash, the entry would be: Debit: Fixtures and Fittings $5,000 Credit: Cash $5,000 This entry reflects the acquisition of an asset that will be used in the business.
