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What will be the journal entry for installation charges paid for a machinery?

Anonymous

∙ 11y ago

Updated: 4/28/2022

[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

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∙ 11y ago

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What is the journal entry for wages paid for installation of machinery?

[Debit] Machinery Asset [Credit] Cash Account

What is the journal entry for wages paid for installtion of machine?

debit installation chargescredit bank

What journal entry is needed to debit for bank service charges?

[Debit] Bank service charges [Credit] Bank account

What is the journal entry for bank services charges?

[Debit] Bank service charges xxxx [Credit] cash / bank xxxx

What is the accounting journal entry to record settlement charges?

Debit settlement chargesCredit cash /bank

Related Questions

What is the journal entry for wages paid for installation of machinery?

[Debit] Machinery Asset [Credit] Cash Account

What is the journal entry for wages paid for installtion of machine?

debit installation chargescredit bank

Journal entry for installation of machinery?

Today, we successfully installed new machinery in the production facility. The team worked efficiently to assemble and test the equipment according to the manufacturer's instructions. The new machinery is expected to enhance productivity and efficiency in our manufacturing process. Training sessions will be scheduled to ensure all operators are proficient in using the new equipment effectively.

What journal entry is needed to debit for bank service charges?

[Debit] Bank service charges [Credit] Bank account

What is the journal entry for bank services charges?

[Debit] Bank service charges xxxx [Credit] cash / bank xxxx

What is the accounting journal entry to record settlement charges?

Debit settlement chargesCredit cash /bank

What is journal entry of electricity charges?

Debit electricity chargesCredit cash /bank / accounts payable

What is journal entry for bank charges?

bank charges a/c debit to cash a/c credit

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 is the T account for Journal entry for Machinery purchased on cash?

find out the accounts involed in eash of the following cases Q:- machinery purchased for cash. Q:- furniture is purchased on cresit

What does a buyer do When goods are shipped FOB destination and the seller pays the transportation charges?

makes no journal entry for the transportation

What is a compound journal entry?

Compound journal entry is that entry which records more than one business transaction in one single journal entry.

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