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Comments for T-Accounts, Journal Entry and Trial Balance Question Click here to add your own comments Finish it please by: Anonymous Where is the full solution with statement of financial position, worksheet, comprehensive income, cash flow and financial ratio?This exercise only asks for the...
(conveyance advance balance retained beyond periodical closure has to be shown in the B/S Assets side as Prepaid Expense).Jrnl 2 At the time of Entering actual expenses/refund: Conveyance a/c Dr 8,000 (transfer to the expense acct) Bank/Cash a/c Dr 2,000 (entry for refund) To Conveya...
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If you put $50K down, you should have an asset, not a liability, because you can't give someone money and then you have a liability as a result - both are credits from a double-entry accounting perspective. If someone gave you money, then you can have a liability. Is the $50K ...
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EFT Ledger Entry No. Field, Gen. Journal Line Table New Zealand Local Functionality Excise refund Field, Gen. Journal Line Table Excise Amount (ACY) Field, Gen. Journal Line Table New Zealand Local Functionality Transaction Code Field, Gen. Journal Line Table United States Local Functionality BAS...
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For writing of discount following entry should be passed: Profit and loss a/c Dr. 12,000 To Discount on issue of debentures a/c 12,000 (Being discount on issue of debentures written off) Illustration 7: (Discount Written off equally) A company issued 5,000 15% debentures of Rs. 100 ...
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