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What is the name of the controlling account for the finished goods ledger?
Wiki User
∙ 11y ago
Work in progress account
Wiki User
∙ 11y ago
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What type of balance is the finished goods account have a debit or credit?
credit bal
In a process costing system what account is debited when manufacturing overhead costs are applied to the cost of production?
the finished goods inventroy account
What is muccadam?
supervision , controlling and Monitoring of bank pledge in industries of Raw material or finished goods and provide report of banks regarding issue or receving etc
What is the journal entry to move finished goods from Work In Process to Finished Goods Inventory?
[Debit] Finished Goods [Credit] Work in process
When is CGS recorded at credit side?
when the goods are sold , then the cost of goods sold is recorded at the credit side of the purchase ledger
In accounting what is the rule for entering in the ledger?
Debit an account that has received goods or money; and credit account that has given goods
What type of balance is the finished goods account have a debit or credit?
credit bal
Returned the defectiv goods to mribrar costing rs7000 how to make the ledger account of the entry?
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In a process costing system what account is debited when manufacturing overhead costs are applied to the cost of production?
the finished goods inventroy account
Does an account payable ledger record credits or debits?
Accounts payable is created when goods purchased on credit so it records the credits that is how much amount payable to creditors.
What is muccadam?
supervision , controlling and Monitoring of bank pledge in industries of Raw material or finished goods and provide report of banks regarding issue or receving etc
What is the journal entry to move finished goods from Work In Process to Finished Goods Inventory?
[Debit] Finished Goods [Credit] Work in process
What is the journal entry for selling finished goods?
[Debit] Cash /bank / accounts receivable [Credit] Sales revenue account
Journal entry for goods written off?
The general ledger journal entry for the uncollectible bad debt would be considered a loss in ledger. Debit the account named Bad Debt Expense for the amount and credit the account Accounts Receivable for the amount.
What is the general ledger journal entry to write goods taken by the owner from stock?
debit drawingscredit purchases / goods
Why does ap ledger require subsidiary ledger?
AP Ledger requires a subsidiary ledger to help keep the clutter down in the general ledger. The standard ledger can often fill up with a large amount of activity, making it difficult to handle.
What is the journal entry for purchasing goods on cash does goods account exist?
Debit goods purchasedCredit cashYes goods account is called "Inventory" account
