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What should be Journal entry for purchase of building from general reserve account?
First of all general reserves need to be converted into cash by issuing new shares and then that cash can be used to purchase building.
Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
When you purchase merchandise on account from a vendor what do you put in the Account Title column of the Journal?
When you purchase merchandise on account from a vendor, you should put "Inventory" in the Account Title column of the journal if you're capitalizing the cost of inventory. If the purchase is for an expense, you would use the specific expense account related to the merchandise, such as "Cost of Goods Sold" or another relevant expense account. Additionally, you would also record "Accounts Payable" in the corresponding credit entry to reflect the liability incurred.
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing how should the account holder try to work out a resolution?
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing, how should the account holder try to work out a resolution?
In accounting Cash purchase of supplies should be recorded in what?
cash payments journal
What should be Journal entry for purchase of building from capital reserve account?
Credit your capital account, debit the freehold property account
What should be Journal entry for purchase of building from general reserve account?
First of all general reserves need to be converted into cash by issuing new shares and then that cash can be used to purchase building.
Where do you record a purchase of supplies on account?
This should be recorded in the cash payment journal.
When you purchase merchandise on account from a vendor what do you put in the Account Title column of the Journal?
When you purchase merchandise on account from a vendor, you should put "Inventory" in the Account Title column of the journal if you're capitalizing the cost of inventory. If the purchase is for an expense, you would use the specific expense account related to the merchandise, such as "Cost of Goods Sold" or another relevant expense account. Additionally, you would also record "Accounts Payable" in the corresponding credit entry to reflect the liability incurred.
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing how should the account holder try to work out a resolution?
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing, how should the account holder try to work out a resolution?
In accounting Cash purchase of supplies should be recorded in what?
cash payments journal
Which of the following are NOT required for purchase account records?
A purchase account holder recently discovered that the purchase account was billed multiple times for the same purchase. Prior to disputing, how should the account holder try to work out a resolution?
In which special journal would a purchase of merchandise for cash be recorded?
A company that uses special journals should record a transaction involving the purchase of merchandise for cash ia a: Answer: Cash Payments Journal
How do i record in a journal entry an amount of 5000 should be transfered to the general reserve account?
You record on the debit side an amount of 5000 that should be transferred to the general reserve account.
When an account holder's purchase account is about to expire should?
Wait for the new account to arrive and destroy the old account once the new account is received and activated.
What journal entry should be passed when compay purchase shares?
[debit] treasury stock [credit] cash / bank
When making a purchase an account holder was recently informed by the merchant that the purchase account has been suspended who should the account holder contact to address this matter?
The Agency/Organization Program Coordinator (A/OPC)
