Journal entry 标红的部分分录不确定是否完全正确 A 1.The owner invests personal cash in the business.Account Debit Credit Capital ——Cash ——2.The owner withdraws business assets for personal use.Account Debit Credit Retained earning/dividend/drawing ——Cash ——3.The company receives cash from...
The type of journal entry that the account represents. Examples of account types include owner payable, expense, income, etc. Company The processing company, to whose books the account will be posted (journalized). Accounting Category A four-character code identifying a group of account num...
What is the journal entry for revenue in accounting? What are general ledger accounts in accounting? What are special journals in accounting? What is an accrual book in accounting? What is the journal entry for sales tax payable in accounting?
Bonds Payable: Balance Sheet Liability Accounting Bonds Payable: Current vs. Non-Current Portion Bonds Payable Journal Entry Example (Debit, Credit) What are Bonds Payable? Bonds Payable are a form of debt financing issued by corporations, governments, and other entities in order to raise capital...
Used in a double-entry accounting system, journal entries require both a debit and a credit to complete each entry. So, when you buy goods, it increases both the inventory as well as the accounts payable accounts.Journal entries are the foundation for all other financial reports. They provide...
If an organization purchases inventory on credit, the transaction will be entered as a debit in the inventory account and as a credit in the accounts payable account. In both examples, the journal entries increase and decrease the corresponding accounts accordingly. Following the double entry system...
Two journal entries are necessary to record salaries payable. First, a company will record a debit into the salaries expense for the gross amount paid to employees. The credits for the entry go into the payables accounts, which include payroll taxes payable and net payroll payable, with the ag...
Using the figures from the examples above, the employer need to make the following journal entry to record the monthly payroll expense for Mark and Jane:AccountDrCr Salaries expense 21,667 Payroll taxes expense 1,618 Income taxes payable 3,500 FICA taxes payable 3,092 SUTA tax payable 63...
You must use a compound entry for sales tax accounting. Because you do not keep collected sales tax, you must record received funds in a Sales Tax Payable account. You also need to record the sale and the cash you receive. Here’s how a compound journal entry would look when you make ...
The journal entry to record salaries earned by 10 employees will:A.debit Salary Expense and credit Salary Payable for the net pay.B.debit Salary Expense and credit Salary Payable for the gross pay.C.debit Salary Expense for the gross pay, credit FICA Tax