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To record the utilities bill of Rs 3000 in the general journal, you would make the following entry:
Debit Utilities Expense Rs 3000
Credit Accounts Payable Rs 3000
This entry reflects the expense incurred for utilities and the liability created since the bill has not yet been paid.
What else can I help you with?
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
What should be Journal entry for creation of general reserve?
Reserves always created from profit. Therefore the Journal entry will be for creating reserves Dr Profit & Loss A/c CR Reserve A/c
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
Is a compound entry in the general journal is made to close expense accounts?
A compound entry in a general journal is any entry that has more than one debit or credit value. A compound entry is used to close the expense accounts because you will need to credit all of the expense accounts, then debit either the Income Summary, or the Capital itself.
What is the Journal Entry if a company paid cash for this months utilities?
Debit Utilities expense Credit Cash
What is the journal entry for recording a utilities receipt?
Debit utility expensesCredit cash /bank
What are the types of journal entry?
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
What is another name for the general journal in accounting?
the information is entered in the general journal, which is called the book of original entry.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
In bookkeeping, what is the record of original entry?
The General Journal
How do you record a journal entry in QuickBooks?
To record a journal entry in QuickBooks, go to the Company menu, select Make General Journal Entries, enter the date and journal entry number, choose the accounts to debit and credit, input the amounts, and save the entry.
If a company gives a director a loan of 15000 how do I record a general journal entry?
If a company gives a director a loam of 15000 you will record it on the debit section of the general journal entry.
What happens if the adjusting entries to the general ledger are wrong?
You would reverse the journal entry then record the correct entry.
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
What is the General journal entry to record investment?
debit investment accountcredit cash / bank
What is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
