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Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
Are revenue accounts increased with credits?
Yes, revenue accounts are increased with credits. In accounting, revenues are recorded as credits in the double-entry bookkeeping system, which reflects an increase in the overall equity of the business. Conversely, when revenues decrease, they are recorded as debits. This aligns with the basic accounting principle that credits increase revenue and debits decrease it.
What is the journal entry for receipt from consultation service was rs 8250?
The journal entry for receiving a consultation service fee of Rs 8250 would involve crediting the Consultation Service Revenue account for Rs 8250 to recognize the revenue earned. The corresponding debit entry would typically be made to a Cash or Accounts Receivable account, depending on whether the payment was received immediately or will be received at a later date. This entry follows the basic accounting principle of recognizing revenue when it is earned, regardless of when the cash is actually received.
What is the journal entry for payment which is not earned?
debit cash / bankcredit unearned revenue
Final record of entry in a business' accounting system?
invoice
What would the journal entry if revenue earned by the business during the year?
debit cash / bank / accounts receivablecredit revenue account
Accounting entry for deferred revenue expenditure?
P&L A/C......Dr To Deffered revenue Expendature A/C
What is the journal entry for receipt from consultation service was rs 8250?
The journal entry for receiving a consultation service fee of Rs 8250 would involve crediting the Consultation Service Revenue account for Rs 8250 to recognize the revenue earned. The corresponding debit entry would typically be made to a Cash or Accounts Receivable account, depending on whether the payment was received immediately or will be received at a later date. This entry follows the basic accounting principle of recognizing revenue when it is earned, regardless of when the cash is actually received.
What is the journal entry for payment which is not earned?
debit cash / bankcredit unearned revenue
Final record of entry in a business' accounting system?
invoice
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How do you record an accounting entry services rendered on cash?
[Debit] Cash account [Credit] Services revenue
Invested 1500 into business plus supply value 500. what is the accounting journal entry for this problem?
Invested $1500 to start the business plus supply value $500. what is the accounting journal entry for this problem?
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received?
True
An adjusting entry would adjust revenue so it is reported when earned and not when cash is received.?
True
What is the journal entry for investment revenue of 6000 was earned and received?
debit cashcredit interest on investment
If an adjusting entry were not made at the end of a period to remove the earned revenue from the unearned revenue account?
That would mean that the liabilities would be understated.
