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What will be the journal entry for installation charges paid for a machinery?
[Debit] machinery account [Credit] Cash / bank Normally expenses incurred at the time of purchase of assets till it's working location is included in actual asset's account
What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
What is a nominal account?
Land and Buildings; and Office Machinery A nominal account is account for income and expenses e.g Rent and rates account or subscription account.
If an account was included in bankruptcy can the creditor still show it as a charge off?
I think that your credit report would be updated to show that the account was "included in a Ch 7 bankruptcy." You should be able to get a free credit report from www.annualcreditreport.com if you want to check your credit report to be sure the account's status is listed correctly.
Journal entry for Machinery purchased for Rs. 1 lakh?
If purchased in cash.. machinery A/C......................Dr To cash A/C If purchased on credit.. Machinery A/C.......................Dr To Suppliers A/C
What will be the journal entry for installation charges paid for a machinery?
[Debit] machinery account [Credit] Cash / bank Normally expenses incurred at the time of purchase of assets till it's working location is included in actual asset's account
How do you account the purchase of machinery in Tally ERP9?
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What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
What is a nominal account?
Land and Buildings; and Office Machinery A nominal account is account for income and expenses e.g Rent and rates account or subscription account.
Should any and all account be included in a chapter 7 regardless of the account status?
Yes, all accounts should be entered unless they are marked as "paid in full" or "paid" by the creditor on your credit reports.
What account comes under fix asset?
Buildings, Machinery, Equipment
If an account was included in bankruptcy can the creditor still show it as a charge off?
I think that your credit report would be updated to show that the account was "included in a Ch 7 bankruptcy." You should be able to get a free credit report from www.annualcreditreport.com if you want to check your credit report to be sure the account's status is listed correctly.
Should an account discharged in bankruptcy have a status of closed and if it still says open is this hurting you?
In this instance the account would generally be noted as "included in bankruptcy. The impact the open account would have is insignificant, compared to the bankruptcy.
Journal entry for Machinery purchased for Rs. 1 lakh?
If purchased in cash.. machinery A/C......................Dr To cash A/C If purchased on credit.. Machinery A/C.......................Dr To Suppliers A/C
How do you account for the purchase of machinery in Tally ERP9?
Follow the related link, below.
State A machinery that should be allowed to operate to a critical speed?
State A machinery that should be allowed to operate to a critical speed?
Is the float included in your account balance?
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