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What is the journal entry for purchase of an asset?

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∙ 11y ago

Updated: 9/20/2023

[Debit] Asset Account xxxx

[Credit] Cash / bank account xxxx

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∙ 11y ago

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What is the Journal entry to purchase of an asset?

debit assetscredit cash / bank

Journal entry of credit purchase of asset?

Debit assetsCredit accounts payable

What is the Journal entry for purchase of asset by advance payment?

Debit advance payment for assetCredit cash / bank

Journal entry for the interest on a fixed asset purchase?

Debit fixed assetdebit interest expenseCredit cash /bank

What is the difference between purchase voucher and journal voucher?

if we purchase assets on credit then we will pass its entry in journal voucher n if we buy anything other then asset related to our business then we will go for purchase voucher..........

Related Questions

What is the Journal entry to purchase of an asset?

debit assetscredit cash / bank

Journal entry of credit purchase of asset?

Debit assetsCredit accounts payable

Journal entry for new car purchase?

[Debit] Car Asset [Credit] Cash / bank

What is the Journal entry for purchase of asset by advance payment?

Debit advance payment for assetCredit cash / bank

What are the journal entry for asset revaluation?

debit asset and credit asset revaluation

Journal entry for the interest on a fixed asset purchase?

Debit fixed assetdebit interest expenseCredit cash /bank

What is the difference between purchase voucher and journal voucher?

if we purchase assets on credit then we will pass its entry in journal voucher n if we buy anything other then asset related to our business then we will go for purchase voucher..........

What is the journal entry for donating fixed asset?

debit donationcredit fixed asset

What is the journal entry if asset appreciates?

Debit Asset accountCredit retained earnings

What is the Journal entry move land out of current assets?

Land is not a current asset and if recorded as current asset then no entry required to re-classify as fixed asset.

Journal entry to write off an asset?

debit accumulated depreciationcredit asset

What is the journal entry for depriciation?

Debit depreciation expenseCredit asset account

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