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What is the journal entry to charge-off a loan?
journal entry to write off a loan
Which is the journal entry to write off an investment?
example suman moters of rs 10000 is write off then what is the entry
What is the journal entry to record a reserve?
Debit reserve accountCredit cash / bank
Double entry on bad debt reserve?
Bad debt reserve is an amount set aside by companies in the event that some creditors would not be able to pay their debt. A double entry is to write off the bad debt from the accounting books. For example, company A sold goods to company B for $100 on credit. This is entered as $100 debit in company A's ledger. Later on, company B is unable to fulfill payment on the goods. Company A therefore must write this off in their ledger to keep their assets in check. This will now be entered as $100 credit in the ledger.
What is the entry for reserves and surplus?
entries for Reserve & surplus
What is the bookkeeping entry for a revenue reserve?
The bookkeeping entry for a revenue reserve is a debit to the retained earnings account and a credit to the revenue reserve account. This entry is made to set aside a portion of the profits as reserves for future use or to cover potential losses. By separating the revenue reserve from retained earnings, it allows for better tracking and management of the reserve funds.
What is the Journal entry to write off a goodwill explain the entry?
To write off goodwill, you debit the goodwill account and credit the accumulated impairment loss account. This entry reduces the value of goodwill on the balance sheet to its recoverable amount. Goodwill is typically tested for impairment annually or whenever there are indicators of potential impairment.
What is the general ledger journal entry to begin a Reserve Account?
debit reserve accountcredit cash / bank
What is the journal entry to write off a loan to a company?
debit Retained earningscredit loan to company
Journal entry to write off old outstanding checks?
Debit bankCredit retained earnings
What is journal entry to write off note payble?
Debit notes payableCredit cash /bank
What is the journal entry to write off goodwill?
Debit retained earnings / amortizationCredit goodwill account
