Ask Experts Questions for FREE Help !
Ask
    bjstorey's Avatar
    bjstorey Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 12, 2011, 07:44 AM
    Journal entry for purchase of house?
    What is the journal entry for a purchase of a 221,300 house paying 130,000 down and a 91,300 mortgage?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Jan 12, 2011, 04:11 PM

    Debit Building or House for 221,300
    Credit Cash for 130,000
    Credit Mortgage Payable for the difference
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Journal Entry for purchase of vehicle [ 9 Answers ]

How do I record the principle and Interest for a vehicle purchase?

Journal entry for purchase stock [ 5 Answers ]

I have to make accounting module for pharmacy. Tell me whether I'm making rite entry or not Event is "Purchase of stock from manufacture on credit" Account are Manufacture_account Credit Inventory Debit Also tell me what will be its closing entry, is it correct Manufacture_account ...

Journal entry on purchase 12% BONDS [ 3 Answers ]

On Jan. 1, 2006, Jomona Corp, purchased 12% bonds, having a maturity value of $300,000 for 322,744.44. What is the journal entry?

What is the journal entry for the purchase of an asset [ 1 Answers ]

Purchased a skid loader on a note. Should the entry look like this? Skid Loader 12,000 (Fixed Asset Account) Current Portion of Notes Payable 4,000 (paid this year) (Current Liability) Long Term Portion of Notes Payable 8,000 (Other Liability) Then depreciation would be booked as:...

Journal entry for bond purchase [ 1 Answers ]

What is the correct journal entry for purchase of US Treasury 6% bonds at par plus accrued interest of $1000 - security to be held for short-term profits?

View more questions Search