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[Debit] Gift purchased

[Credit] Cash / bank

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11y ago

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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.


What is the journal entry for a purchase purchased on account of 54780?

what is the journal entry for purchase returns


What is the journal entry for purchase returns?

[Debit] Purchase Return [Credit] Purchases


What is the journal entry for purchase of a business?

debit assetsCredit liabilitiesCredit cash


What is the journal entry for an asset such as a typewriter given to a son as a gift?

When a typewriter is given as a gift, there is no journal entry for the giver, as it does not impact their financial records. However, if the recipient were to record the receipt of the typewriter as an asset, the journal entry would be a debit to the asset account (Typewriter) for the fair market value of the typewriter and a credit to a gift income account for the same amount. This reflects the increase in assets due to the gift received.


What are the journal entry on purchase of software?

Debit software purchase accountCredit cash / bank


What is the journal entry if the company gives gift cards to employees?

debit gift cards expensescredit cash / bank


What is journal entry of purchase of raw material on cash?

The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX


What is the journal entry for unsubscribe capital stock?

There is no journal entry for unsubscribed capital as this is that portion of capital which is company has offered to shareholders for purchase but nobody has purchased that capital so no transaction incurred and hence no journal entry required.


What is the Journal entry to purchase of an asset?

debit assetscredit cash / bank


What is the journal entry for book purchase?

Debit bookCredit cash / bank


What is the journal entry for purchase return goods on credit?

debit accounts payablecredit purchase returns

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