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Type: Posts; User: sharker
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To record purchase of building
Building Dr $200000
Cash Cr $200000
(To record purchase of building on cash)
Explanation|
Increase of asset mean debit and decrease of asset dictates...
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Account Receivable Dr. $900
To, Service revenue $900
(To record revenue)
It is mentioned here that if there is nothing mentioned about cash or credit then it is assumed that the transaction...
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Cash Dr $30000
To,Accrued revenue 30000
( To record unearned revenue)
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Journal
1) Cash Dr $ 175000
To, Capital Account 100000
To, Paid in capital in excess of Par 75000
(To record issuance of share of 10000...
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Very big problem. Answer to 1) First try to make trial balance.
Then Debit all income and credit to income summary,
Debit income summary and credit to all expense account,
The balance need to be...
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You need to learn how journal entries is prepared:
For example when asset or expenses increases, it will be debited by that amount,
When asset or expenses decreases, it will be credited...
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