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What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
What is journal of written off entry for preliminary expenses?
[Debit] Amortization of Prelimenary expenses xxxx [Credit] Preliminary expenses xxxx preliminary expenses are amortized in equal amount intil it is fully write off.
What is the journal entry that are paid on behalf the expenses not belong to company expenses?
There is no general entry for those expenses which are not belongs to company's normal operating business activities and no entry required.
How do you make a journal entry recording a cash discount of 10000 when you make a payment of 20000 early at the request of the seller?
Cash discount is expenses of trading account but this is not an expenses just like a scheame on spot given to the purchaser. So no seprate discount entry need in journal. just reduce discount amount in total value and entry it.
What are the accounting journal entries to record the adjusting entry in a periodic system with an ending inventory of 15000 and a starting inventory of 20000?
Debit inventory expenses 5000Credit inventory account 5000
What is the Utility expenses incurred but not paid adjusting entry?
This is adjusting entry for Accrued Expenses in the current accounting period, where you debit adjusting entry on expenses (Utility Expenses) account and credit adjusting entry on liabilities (Utilities Payable) account.
What is the entry of accrued traveling expenses?
[Debit] Accrued traveling expenses [Credit] Accrued expenses payable
What is Outstanding expenses journal entry?
Debit outstanding expensesCredit expenses payable
What is journal entry of outstanding expenses?
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
What is journal entry of outstanding expenses paid?
[Debit] Outstanding expenses [Credit] Cash / bank
What is the journal entry for prepaid expense when cash is not paid?
prepaid expenses are those expenses for which cash is paid in advance but if there is no cash payment then that is not prepaid expense and hence no entry required.
What is the effect of the adjusting entry for Depreciation expense?
The entry increases total assets and increases total expenses
