0
What is the accounting journal entry to record the purchase price of a business?
Wiki User
∙ 9y ago
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
What are the accounting journal entries to record the purchase of a vehicle with a rebate?
Debit fixed assetCredit cashcredit rebate
What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
What are the accounting journal entries to record the purchase of land on a note?
debit land accountcredit notes payable
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
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 is Journal phase of accounting?
Journal phase of accounting is to journalize the business transaction in Journal as a first record in books of accounts.
What the accounting journal entries to record purchase of basketball?
debit basketballcredit cash
What are the accounting journal entries to record an overcharged cost that was posted to an expense purchase to Accounts Payable and was paid at a later date?
general journal
What are the accounting journal entries to record the purchase of a vehicle with a rebate?
Debit fixed assetCredit cashcredit rebate
What are accounting journal entries to record a purchase of stump age?
debit stamp age purchasecredit cash
What are the accounting journal entries to record the purchase of land on a note?
debit land accountcredit notes payable
What transaction is found first on accounting record?
The "journal" is the first transaction found on the accounting record.
What is purchase journal?
A purchase journal is a specialized accounting journal used to record all credit purchases of goods or services made by a business. It typically includes information such as the date of the purchase, vendor name, invoice number, and amount owed. The purchase journal helps track the company's liabilities and expenses related to purchasing inventory or other items.
What is the accounting journal entry to record stamp duty and fees imposed on the purchase of land?
Dr Land & Property Cr Bank
What is recording phase of accounting?
Recording phase of accounting is to record the transactions into journal after transactions occured.
What is the history of accounting for merchandising business?
In merchandising business, sales and purchases are the most common transactions. Special journals are used to record the transactions as they are very frequent and to make the accounting process simpler. The types of special journals used are Revenue Journals: sales journal and cash receipt journal. Expense Journal: purchase journal and cash payment journal. Earlier the accounts were hand written in the relevant books of accounts and tallied every month or half yearly or annually. However the same accounts are computerized for easier reference in the modern age.
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.
