debit wages payable
credit cash
it s transfer to profit and loss account.
debit installation chargescredit bank
Please provide me the list of closing journal entreis requried to enter in books to finalize the P&L and B&S
Closing entries should be journalized and posted. They are entered in the general journal, as well as posted in the general ledger.
Db wage expense Cr cash
debit wages expensescredit wages payable
[debit] wages expensescredit cash / bank
Debit wages expensesCredit cash / bank
what is entry of closing stock in p & L a/c & balance sheet
debit wages expensecredit shares in share capital
Db wage expense Cr cash
it s transfer to profit and loss account.
debit installation chargescredit bank
Closing entries should be journalized and posted. They are entered in the general journal, as well as posted in the general ledger.
Please provide me the list of closing journal entreis requried to enter in books to finalize the P&L and B&S
Debit Loan account 2000 Credit Wages account2000
Db wage expense Cr cash