Expense Journal Entry Example (Salary) h) In order to be able to successfully pull off the catering job for the wedding and for future jobs, George decides to hire an assistant. He paid the assistant a $4,000 salary. What happens with this? As usual, we're going to first take a loo...
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...
Journal Entry for Accounts Payable: In this case, the related asset or expense account is debited, and the journal entry for the payable account is credited. When payment is to account payable, accounts payable is debited, and cash account is credited. Journal Entry for Payroll: In the case ...
In fact, QBO help suggests, "To handle the amortization of intangible assets, you can create a journal entry to deplete it." The monthly expense of that asset is from a journal entry, and I still want to be able to see which vendor the expense was relate...
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 numbers...
If you enter the same account for each gain and loss account, Oracle Assets creates a single journal entry for the net gain or loss.Prior Period RetirementExample: You place an asset in service in Year 1, Quarter 1. The asset cost is $4,000, the life is 4 years, and you are using...
To prepare a journal entry, an accountant must determine the correct accounts to enter the debit and credit. In accounting, the process is complicated due to the various types of accounts where these transactions are recorded. For example, debits can represent the increase of an asset or expens...
Accumulated Depreciation Entry Accrued Expense EntryCommon Journal Entry QuestionsWhat is a manual Journal Entry? Manual journal entries were used before modern, computerized accounting systems were invented. The entries above would be manually written in a journal throughout the year as business transacti...
B.A journal entry is not posted. C.An error or errors have been made. D.An entry is posted twice. 点击查看答案 第2题 A journal entry to recognize an expense must include (). A.A credit to Accounts Payable account B.A debit to an Expense account C.A credit to Cash account D.A...
Cash was used to pay the dividends, which means cash is decreasing. Cash is an asset that decreases on the credit side. Dividends distribution occurred, which increases the Dividends account. Dividends is a part of stockholder’s equity and is recorded on the debit side. This debit entry has...