What account do I charge

monte sereno · #1 Jun 28, 2008, 09:07 AM

I work at a beauty salon. What accounts do I debit/credit the following items:
Weekly Flowers for the lobby
Decorations
Pottery for outside and potted plants
Products for resale

Criado · Jun 28, 2008, 09:35 AM

I suggest you debit Miscellaneous Expense for:
-Weekly Flowers for the lobby
-Decorations
-Pottery for outside and potted plants

For Products for resale you should debit Inventories.

You should credit cash if you paid in cash; or credit Accounts Payable when purchased on account.



At Ask Me Help Desk you can ask questions in any topic and have them answered for free by our experts. To ask questions or participate in answering them you must register for a free account. By registering you will be able to: Get free answers from experts in any of our 300+ topics. Accept money for answers that you provide. Communicate privately with other members (PM). See fewer ads. Sign Up!