0
What are the accounting journal entries to record inventory movements?
Wiki User
∙ 15y ago
Increase Inventory - Purchase Dr - Inventory
Cr - Accounts Payable or Cash
Increase Inventory - Manufacturing Completion Dr - Inventory (Finished Goods)
Cr - Work in Process or Raw Materials Movement in Manufacturing - Beginning Production Dr - Inventory - Work In Process
Cr - Inventory - Raw Materials Sale of Inventory Dr - Accounts Receivable or Cash
Cr - Inventory - Finished Goods
Wiki User
∙ 15y ago
Add your answer:
Earn +20 pts
What are the accounting journal entries to record a prepaid inventory?
Debit prepaid inventoryCredit cash / bank
What are the accounting journal entries for owner withdrawing supplies?
debit drawings accountcredit supplies inventory
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What are the accounting journal entries to record the adjusting entry in a periodic system with an ending inventory of 15000 and a starting inventory of 20000?
Debit inventory expenses 5000Credit inventory account 5000
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
What are the accounting journal entries to record a prepaid inventory?
Debit prepaid inventoryCredit cash / bank
What are the accounting journal entries for owner withdrawing supplies?
debit drawings accountcredit supplies inventory
What are the accounting journal entries to record a sale of inventory with discount?
debit accounts receivablecredit sales revenue
What are the accounting journal entries to record a purchase of inventory on credit with payment terms and delivery terms of FOB destination?
In the accounting journal, enter the bill amount for the inventory under the credit column. Under the debit column, enter the payments made towards the inventory.
What are the accounting journal entries to record the adjusting entry in a periodic system with an ending inventory of 15000 and a starting inventory of 20000?
Debit inventory expenses 5000Credit inventory account 5000
What are the accounting journal entries to write off stock?
To write off stock in accounting, the journal entries would be to debit the inventory account and credit the expense account, such as "Inventory write-off" or "Loss on inventory write-off." Additionally, if applicable, debiting any allowance for obsolete or damaged inventory account and crediting the inventory account would be necessary. The total debit amount should equal the total credit amount in the journal entry.
What are the advantages and disadvantages of journal entries in accounting?
what is the disadvantages of general journal
What are the accounting journal entries to record a down payment of inventory in one year and the receipt of the merchancise in the following year?
debit down paymentcredit bank
Accounting journal entries?
I am assuming this question is asking what Accounting journal entries are? Each of a firm's transactions are recorded in journals. Each major transaction is recorded in the General Journal, where various repetitive transactions are recorded in special journals, with the totals translated into the General Journal later. These journal entries are the basis for the General Ledger, the Trial Balance, and the Financial Statements. There are two components to any journal entry: Debits and Credits. Whenever you debit accounts in your journal entry, you must credit other accounts for an equal amount. Your total debits should always equal total credits. As an example, these are what the journal entries for the sale of inventory to a customer might look like. Part 1 - The Inventory was sold to an outside customer for $100. Debit: Cash $100 Credit: Revenue $100 Part 2 - The Cost of the Inventory credited to the books Debit: Cost of Goods Sold $75 Credit: Merchandise Inventory $75
What are the accounting journal entries to record a purchase of inventory?
[Debit] Purchases xxxx [Credit] Cash / bank xxxx [Credit] Accounts payable xxxx (if purchased on credit)
General journal entries?
. 1. Based on the bank reconciliation prepare the journal entries.. Alaine Alvarez consulting July 31
What are the journal entries that bring the accounts up to date at the end of the accounting period called?
closing entries
