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What is the proper journal entry for purchasing a computer on account?

[Debit] Computer Asset Account [Credit] Accounts payable account


What are the 4 closing entries?

The four closing entries are used to close temporary accounts and prepare them for the next accounting period. They include closing revenue accounts to the Income Summary account, closing expense accounts to the Income Summary account, transferring the balance of the Income Summary account to the Retained Earnings account, and closing dividends (or withdrawals) accounts to the Retained Earnings account. These entries ensure that the temporary accounts reflect a zero balance at the start of the new period.


What is a deceased account?

A deceased account refers to a financial or online account belonging to an individual who has passed away. When a person dies, their accounts, such as bank accounts, social media profiles, or subscription services, may need to be managed or closed by their estate or designated beneficiaries. Legal processes, such as probate, often dictate how these accounts are handled, including accessing funds or information and transferring ownership if necessary.


What is a credit transfer?

A credit transfer is a method of settling a debt by transferring money through a bank or post office, especially for those who do not have cheque accounts. It's the transfer of money from one account to another account, basically.


What is the difference between a Debit and a Credit as it relates to Accounts Receivable?

Accounts Receivable is an account that holds what a person or company owes your business. For example you sold a computer to a customer on credit, this credit is listed in an Accounts Receivable and is an asset.Asset accounts maintain a Debit Balance, meaning that a debit to the account will increase the account (in other words increase the amount the customer owes the company).A credit to the account will decrease the balance of that account (in other words, it records payment or credit to that customers account and decreases the amount the customer owes the company).

Related Questions

What is the proper journal entry for purchasing a computer on account?

[Debit] Computer Asset Account [Credit] Accounts payable account


How much would you get for your runescape account?

Transferring accounts between players is against the rules. Besides, anybody can get his own account from the website - for free.


Can anyone give me a runescape account 90 plus?

No. Transferring accounts is against the rules of Jagex. Please make your own account. Make your own ******* account is it that hard to do that


Does any one have a runescape account that I can have than send your Username and Password to haloking0697rocketmail.com?

Transferring accounts is against the RuneScape rules. Please create your own account, and level it up on your own.Transferring accounts is against the RuneScape rules. Please create your own account, and level it up on your own.Transferring accounts is against the RuneScape rules. Please create your own account, and level it up on your own.Transferring accounts is against the RuneScape rules. Please create your own account, and level it up on your own.


Can someone give you a rs account str pure?

No; transferring accounts between players is against the rules of RuneScape.


Does somebody have a runescape account there willing to let go of it would be very great?

Transferring accounts is against the rules, but you can easily create your own account.


Can you pay yourself on PayPal?

Yes, you can pay yourself on PayPal by transferring money from one of your linked accounts to your PayPal account.


What account is the lowest and most powerful level of UNIX accounts?

The root account. It can do anything on the computer.


How do you install two Dropbox accounts on one computer?

You can install one dropbox client in one computer. If you want use two Dropbox accounts then sync 1st account and after that log-in to other dropbox account.


What are the 4 closing entries?

The four closing entries are used to close temporary accounts and prepare them for the next accounting period. They include closing revenue accounts to the Income Summary account, closing expense accounts to the Income Summary account, transferring the balance of the Income Summary account to the Retained Earnings account, and closing dividends (or withdrawals) accounts to the Retained Earnings account. These entries ensure that the temporary accounts reflect a zero balance at the start of the new period.


Is anyone giving away free runescape accounts if so then email them to you at soccer peter 17hotmailcom?

Transferring accounts is against the rules of RuneScape. Please build up your own account.Transferring accounts is against the rules of RuneScape. Please build up your own account.Transferring accounts is against the rules of RuneScape. Please build up your own account.Transferring accounts is against the rules of RuneScape. Please build up your own account.


Can somebody email mogzmaniac a level 60 plus runescape account at www.mogzmaniachotmail.co.uk?

Transferring RuneScape accounts between players is against the rules. Please create your own account.Transferring RuneScape accounts between players is against the rules. Please create your own account.Transferring RuneScape accounts between players is against the rules. Please create your own account.Transferring RuneScape accounts between players is against the rules. Please create your own account.