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What is the journal entry for wages paid for installation of machinery?
[Debit] Machinery Asset [Credit] Cash Account
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 installtion of machine?
debit installation chargescredit bank
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 is a compound journal entry?
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
How do you do journal entry for Forecasting Sales?
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
What is the structure of a journal entry?
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Why you post journal entry?
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
What is the journal entry for bill received?
There is no journal entry for bill received rather journal entry is made when bill is actually paid or when utility is actually utilized.
Why do you need to do journal entry?
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.
What is the journal entry to charge-off a loan?
journal entry to write off a loan
