How is a journal entry recorded?, Accounting Basics

Assignment Help:

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

 


Related Discussions:- How is a journal entry recorded?

Joural Transaction, A machine valued on the books at $8500 was sold on cre...

A machine valued on the books at $8500 was sold on credit to $8000.

On january 1, On January 1, 2012, Bartell Company sold its idle plant facil...

On January 1, 2012, Bartell Company sold its idle plant facility to Cooper Inc. for $1,050000. On this date, the plant had a depreciated cost of $735,000. Cooper paid $150,000 ca

Examples of deferred revenue expenditure? , What are examples of deferred r...

What are examples of deferred revenue expenditure? Ans) It is an expenditure the advantage of which will be realized over a period and not during the present period. Ex-Heavy Ad

Nos, the spelling of number is different than code

the spelling of number is different than code

How to capitalize my patents?, How can I capitalize my patents? My company ...

How can I capitalize my patents? My company has applying for a patent and I want to capitalize the research and development expenditures. I know it will cost some legal charges and

Prepare a system flowchart - systems analysis, GILCO rents DVDs and DVD pla...

GILCO rents DVDs and DVD players (players) on a short term basis to airline passengers through GILCO locations at every large commercial airport throughout the world.  A passenger

Solved questoin of account, want a question of general jouranal , t account...

want a question of general jouranal , t account ,traial balance , income statement and balance sheet

Accounting in india, procedure followed in government system of accounting ...

procedure followed in government system of accounting in india

Desrocher ltd. issued an instalment note on january 1, Desrocher Ltd. issue...

Desrocher Ltd. issued an instalment note on January 1, 2014 (with a required yield of 9%), in exchange for land that it purchased from Safayeni Ltd. Safayeni's real estate agent

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd