How is a journal entry recorded?, Accounting Basics

Journal Entries are recorded on a double entry system like debit and credit concept. In order to record a journal entry the following steps require to be followed.

? Enter the Journal entry number
? Enter the Date of transaction
? Enter the Debit item (as per the golden principles of accountancy)
? Enter the corresponding GL folio number
? Enter the Debit amount

 

Posted Date: 3/30/2013 5:15:24 AM | Location : United States







Related Discussions:- How is a journal entry recorded?, Assignment Help, Ask Question on How is a journal entry recorded?, Get Answer, Expert's Help, How is a journal entry recorded? Discussions

Write discussion on How is a journal entry recorded?
Your posts are moderated
Related Questions
Harry and Sally were divorced three years ago. In July of the current year, their son, Joe, broke his arm falling out of a tree. Joe lives with Sally and Sally claims him as a de

Q. What is periodic inventory procedure? In the periodic inventory procedure the Merchandise Inventory account is updated periodically subsequent to a physical count has been m

At the end of this assignment, you will have: Identified the facts and accounting issues at AVE. Researched the appropriate accounting literature. Analyzed, interpreted,

The major difference in the statement of retained earnings between a service business and a  Merchandising business is  A. that the retained earnings statement of a merchandisi

Q. Income taxes payable? Taxes withheld from employees comprise federal income taxes, state income taxes and social security taxes withheld from employees' pay checks. The comp

Please use the following information to answer questions 4-5: Cash $10,000 Accounts Payable $7,000 Accounts Receivable $6,400 Mortgage Payable $65,000 Supplies $1,500 Long-

Matilda Crone owns and operates a public relations firm called Dance Fever. The following amounts summarize her business on August 31, 2014:

what is Accounts payable process?

Q. What is Prepaid expense? A prepaid expense is an asset pending assignment to expense such as prepaid rent, prepaid insurance and supplies on hand. Note that the character of

I am requesting for literature review and past studies on CDS.