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Over the period,
Expense debit
Payable credit
and when pay
Payable debit
Bank credit
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Expense should be charged on acturial asumption.
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and over the period, acturial gain or loss should be recorded.
What else can I help you with?
What is the accounting entry for provision for gratuity?
Gratuity a/c dr Provision for gratuity a/c
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What is the basic summary device of accounting?
account or accounting equation
What is the accounting entry for provision for gratuity?
Gratuity a/c dr Provision for gratuity a/c
What is journal entry for gratuity payment?
[Debit] Gratuity [Credit] Cash / bank
Who introduces double entry accounting?
Double Entry Accounting is introduced by Lucas Paciolli
What machine inspired the double entry accounting method?
There is no record of a machine that inspired the double-entry accounting method. Records show that double-entry accounting was inspired by existing accounting practices at the time.
Matching in accounting means to make an entry in the journal?
Matching" in accounting means to make an entry in the journal
What is the accounting entries when goods are bought on credit?
The journal entry is the accounting entry which lists the goods that are bought on credit.
What is the accounting entry for sales return under warranty?
The accounting entry for sales return under warranty is the accrued warranty liability. This entry is written under warranty expense.
What is the basic summary device of accounting?
account or accounting equation
What is office maintenance in accounting?
What entry can we post to Office Maintenance Account in accounting
What is Provision for audit fees entry?
what is the accounting entry for provision for audit fees
What is closing entry of asset?
closing entry of an asset means the adjustment entry we do on the last day of accounting year.
Why do you need to reverse a journal entry?
According to my understanding and my study in accounting, the reversal of journal entry merely is for the opening balances for a new year of accounting period
