furniture a/c dr
to cash a/c
debit household furniturecredit cash / bank
Furniture a/c dr. To capital a/c
[Debit] Furniture [Credit] Cash / bank
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 purchase returns
debit household furniturecredit cash / bank
Furniture a/c dr. To capital a/c
[Debit] Furniture [Credit] Cash / bank
Furniture is depreciated as it is tangible assets while intangible assets are amortized.Debit depreciationCredit Furniture
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 purchase returns
[Debit] Purchase Return [Credit] Purchases
debit assetsCredit liabilitiesCredit cash
Debit software purchase accountCredit cash / bank
The journal entry is as follows: [Debit] Raw material XXXX [Credit] Cash/bank XXXX
[Debit] Office furniture [Credit]Owner equity / Retained Earnings
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.