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Adjusting Journal Entries = These are the entries which are not recoded and is to be adjusted at the end of the year .For example; Supplies in hand Supplies expense A/C Dr. and Supplies A/C Cr.2) Salaries payable; Salaries expense A/C Dr. and Salaries Payable A/C Cr. 3) Prepaid Expense; Prepaid Expense A/C Dr.and particular expense Cr.4) Depreciation; Depreciation on Particular Asset A/C Dr. and Accumulated A/C Cr.
Dr. Cr.
Date
Particulars
Amount
To Common stock
$20000
By purchases
$10,000
By Balance C/D
Total
$20,000
This is an example of Cash A/C
a decrease in owner''s equity may result from a(n) a. purchase of office supplies for cash b. withdrawal of cash from the business by owner c. revenue that is derived from sales of
Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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what is the contributed capital and how do you figure it out?
If the amount in supplies expense is the january 31 adjusting entry and $650 of supplies waw purchased in january what was the balance in supplies on january 1
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
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How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
What are the components or materials used by Accounts receivable departments? Ans) Accounts Receivable department is very vital department of the company. The responsibilities o
What does receiving a bid do to your business records?
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