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What will be the journal entry if you received net commission after deducting prev month gross commission?
The journal entry for receiving commission is as follows: Cash/Bank [Debit] XXXX Commission[Credit] XXXX
What is the journal entry for paid rent for the month?
The journal entry for paid rent for the month typically involves debiting the Rent Expense account and crediting the Cash account. For example, if the rent payment is $1,000, the entry would be: Debit Rent Expense $1,000 Credit Cash $1,000 This reflects the expense incurred for using the property and the reduction in cash due to the payment.
What is journal entry for paid electricity bill for the month of march'2010 Rs3450?
Electrycity bill A/C Debit To Cash A/C Credit
What is the smallest unit of time to calculate depreciation?
A calendar month is the smallest unit of time used to calculate depreciation. A plant asset may be placed in service at a date other than the first day of a fiscal period. In such cases, depreciation expense is calculated to the nearest first of a month. To calculate depreciation expense for part of a year, the annual depreciation expense is divided by 12 to determine depreciation expense for a month. The monthly depreciation is then multiplied by the number of months the plant asset was used that year.
Billed customers 16450 for crop dusting services rendered during the second half of the month show its adjusted general journal entry?
To record the billing for crop dusting services rendered, the adjusting journal entry would be as follows: Date: [End of month date] Debit: Accounts Receivable 16,450 Credit: Service Revenue 16,450 This entry recognizes the revenue earned from the crop dusting services and reflects the amount billed to customers in the accounts receivable.
What is the journal entry for record one month depreciation on the computer equipment. Useful life is 3 years?
To record one month of depreciation on computer equipment with a useful life of 3 years, first calculate the monthly depreciation expense. If the cost of the equipment is, for example, $3,600, the annual depreciation would be $1,200, resulting in a monthly depreciation of $100. The journal entry would be: Debit: Depreciation Expense $100 Credit: Accumulated Depreciation - Computer Equipment $100
What are the types of journal entry?
1 - General journal entry2 - Adjusting journal entry3 - Month end adjusting entry
What is the journal entry of interest on capital 5 percent pa for a month?
o.5
What will be the journal entry if you received net commission after deducting prev month gross commission?
The journal entry for receiving commission is as follows: Cash/Bank [Debit] XXXX Commission[Credit] XXXX
What is the journal entry for paid rent for the month?
The journal entry for paid rent for the month typically involves debiting the Rent Expense account and crediting the Cash account. For example, if the rent payment is $1,000, the entry would be: Debit Rent Expense $1,000 Credit Cash $1,000 This reflects the expense incurred for using the property and the reduction in cash due to the payment.
Why are adjusting journal entry prapare?
Adjusting entries are made for different reasons like errors in previous journal entries or adjustment at month end or year end for accruals etc.
At the end of the month the adjusting journal entry relating to the use of supplies would include a?
debit supplies expensescredit supplies inventory
What is the journal entry for declared dividends?
No journal entry for stock option until that stock option is not utilized by the employees or any person with stock option available to them.
What is journal entry for paid electricity bill for the month of march'2010 Rs3450?
Electrycity bill A/C Debit To Cash A/C Credit
What is the journal entry if someone borrowed cash from you with an interest of 6 percent per month?
Debit short term loanCredit cash / bank
What is the smallest unit of time to calculate depreciation?
A calendar month is the smallest unit of time used to calculate depreciation. A plant asset may be placed in service at a date other than the first day of a fiscal period. In such cases, depreciation expense is calculated to the nearest first of a month. To calculate depreciation expense for part of a year, the annual depreciation expense is divided by 12 to determine depreciation expense for a month. The monthly depreciation is then multiplied by the number of months the plant asset was used that year.
Billed customers 16450 for crop dusting services rendered during the second half of the month show its adjusted general journal entry?
To record the billing for crop dusting services rendered, the adjusting journal entry would be as follows: Date: [End of month date] Debit: Accounts Receivable 16,450 Credit: Service Revenue 16,450 This entry recognizes the revenue earned from the crop dusting services and reflects the amount billed to customers in the accounts receivable.
