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The journal is the gateway to the future; it allows a person to chart their goals, vision and purpose in life. History has shown that without a journal, there is now purpose. It is the journal that keeps a precise record of the path a person is taking and also provides inside to ones position.

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Why do you need to re class a journal entry?

if journal entry is misclassified to some other account then it is required to re-classify the journal entry for correct impact or record purposes.


Explain what a purchase journal is use for?

Purchase journal is used for keeping the chornological record of date wise purchase of goods purchased for trading purposes on credit.


What are the proforma journal entries?

Proforma journal entries are hypothetical journal entries prepared before actual transactions occur. They help in understanding the potential impact of transactions on financial statements. These entries are used for forecasting and planning purposes.


What are the purpose of making adjusting journal entries?

Adjustments are made to journal entries to correct mistakes. Adjustments can also be made to ensure accounts balance, but this is normally done for internal purposes.


What is the journal entry for certificates issued for promotional purposes rather than sold?

Debit advertisement and promotionCredit cash bank


Which journal is used to accumulate employee compensation and tax information?

The journal used to accumulate employee compensation and tax information is typically the payroll journal. This journal records all payroll-related transactions, including gross wages, deductions for taxes and benefits, and net pay. It serves as a detailed record for payroll processing and tax reporting purposes.


What is client journal entries?

Client journal entries are records of financial transactions maintained by a client, such as an individual or a company, in their own accounting records. These entries reflect the debits and credits related to the business activities of the client. Client journal entries are used to track income, expenses, assets, and liabilities for financial reporting and analysis purposes.


What is the significance of the issue number in a journal publication?

The issue number in a journal publication helps to organize and categorize the content, making it easier for readers to locate specific articles within a volume. It also indicates the chronological order of publication and can be used for citation purposes.


What information should be included in a journal entry for a tax refund?

A journal entry for a tax refund should include the amount of the refund received, the date it was received, and the account it is being deposited into. It should also note any relevant tax codes or references for tracking purposes.


What does journal mean in Roman?

There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".There is no Latin word "journal". But if you mean the Latin word for journal, it is "ephemeris".


What is the purpose of the return inwards journal?

The return inwards journal serves to record goods that customers return to a business, documenting the return of inventory and the reduction of sales revenue. It helps in tracking returns for accounting purposes, ensuring accurate inventory levels, and managing customer accounts. By maintaining this journal, businesses can analyze return patterns and improve customer satisfaction through better handling of returns.


What are the features of a journal?

there are 2 types of journal. 1. general journal 2. speacil journal