Ask Experts Questions for FREE Help !
    k0335910's Avatar
    k0335910 Posts: 1, Reputation: 1
    New Member

    Feb 1, 2018, 01:41 PM
    Where do I post invest money in business on general ledger
    How do I post investing money into a business and purchases of goods for resale and cash sales totaled 8750.-- cogs 5,000 how do I post these to my general ledger. I tried to do this but professor said it wasn't right.
    paraclete's Avatar
    paraclete Posts: 2,706, Reputation: 172
    Ultra Member

    Feb 1, 2018, 03:32 PM
    If you mean this is capital injected into the business then debit cash and credit proprietors equity, credit cash debit purchases, debit cash credit sales.

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!

Transferring from General Journal to the General Ledger [ 1 Answers ]

When transferring from the General Journal to the General Ledger which cash items do you transfer .:confused:

How do I post to General Ledger and Journal [ 1 Answers ]

Pleasant Breeze owns three company cars, with one car replaced every three years always during December. The 2004 Toyota Camry is replaced today with a 2007 Honda Accord. The company paid $28,000 for the Honda. Pleasant Breeze pays 10% down and signs a five year, 3% note for the balance with...

The reversing entry in the general journal and posting it to the general ledger [ 4 Answers ]

Hi I need to know How I can post reversing etry in to the general ledger ? For example if I have The business last paid a water bill in May, which was for 3 months of water expense up to the end of April. The additional accrual entry for water expense for the last two months is $2,290. And I...

General Ledger versus General Journal [ 1 Answers ]

Does the number of entries in the general journal equal the number of entries in the general ledger. Why?

View more questions Search