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The accounting entry for the purchase of a mobile phone would typically involve a debit to the asset account (e.g., "Mobile Phones" or "Equipment") and a credit to the cash or Accounts Payable account, depending on whether the purchase was made in cash or on credit. For example, if the mobile phone costs $500 and is bought in cash, the entry would be: Debit "Mobile Phones" $500 and Credit "Cash" $500. If purchased on credit, it would be: Debit "Mobile Phones" $500 and Credit "Accounts Payable" $500.
What else can I help you with?
Mobile phone is an fixed asset or expense in accounting term?
yes
How does a mobile merchant account work?
A merchant account is where a business accepts debit and credit cards as payment for their goods and services. A mobile merchant account is where the business operates with the mobile phone company and the charges are made to the customer's phone bill rather than to a credit or debit card.
Is the journal entry of receiving a phone bill an asset or liability?
phone bill is liability for business as it is payable in future and not an asset as the benefit of it has already taken by business.
What is the meaning of 'M-banking'?
The meaning of M-banking is mobile banking. Many bank services offer a mobile phone app so that customers can carry out various transactions online.
What is Account holder making purchase with purchase account over phone is responsible for all of the following tasks EXCEPT?
The account holder making a purchase with a purchase account over the phone is generally responsible for providing accurate payment information, confirming the details of the transaction, and ensuring they have sufficient credit or funds available. However, they are not responsible for verifying the legitimacy of the merchant, as this is the merchant's responsibility.
Where can I purchase a SIM card in China for my mobile phone?
You can purchase a SIM card for your mobile phone in China at most convenience stores, mobile phone shops, or at the airport upon arrival.
Where online can I purchase mobile phone batteries?
You can purchase mobile phone batteries on the following site: http://www.batteries4less.com/. They have a great selection.
Mobile phone is an fixed asset or expense in accounting term?
yes
Where can I purchase a Philippines prepaid SIM card for my mobile phone?
You can purchase a Philippines prepaid SIM card for your mobile phone at convenience stores, mobile phone shops, or at the airport upon arrival in the Philippines.
Where can I purchase a SIM card in Cuba for my mobile phone"?
You can purchase a SIM card for your mobile phone in Cuba at official ETECSA stores or authorized resellers.
Where is it possible to purchase mobile phone batteries?
It is actually possible to purchase mobile phone batteries online. Even the repair centers provide mobile batteries. It may cause you a lot if you purchase it on a third party seller.
Where can one purchase a Google mobile phone?
One can purchase Google mobile phone from any mobile phone company. For instance, Rogers, Amazon, HTC One website, Windmobile website and Google's official website.
When you use mobile phone to purchase the product and transfer the money then the transaction name?
when you use mobile phone to purchase the produ t and transfer the money,the transaction is called
Where can a Dell mobile phone be bought?
One can purchase a Dell mobile phone at retailers like Walmart and Target. One can also purchase Dell mobile phones online on sites such as Amazon and eBay.
Where can one purchase replacement chargers for Motorola cell phones?
You can buy replacement phone chargers at local department stores. You can also purchase them from mobile phone kiosk or mobile phone store in your area.
Where can one purchase a Windows phone?
One can purchase a Windows phone from most stores that sell mobile phones as well as from most mobile phone service providers. Telus and Rogers both sell Windows phones.
From where can one purchase a Virgin Mobile prepaid cell phone?
One can purchase a prepaid Virgin mobile phone online from sites such as Virgin Mobile, Best Buy, Amazon, Overstock, Target, Walmart, The Good Guys and eBay.
