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

    Nov 29, 2009, 07:23 PM
    If I put 30k to start my business, what is debit & credit a/c in journal entry?
    If I use 30k to start my own business, what's the debit & credit a/c in journal entry?
    ROLCAM's Avatar
    ROLCAM Posts: 1,420, Reputation: 23
    Ultra Member
    		  
    #2

    Nov 30, 2009, 04:06 AM

    DEBIT Cash Account $30,000
    CREDIT Capital Account $ 30,000

    Being an amount of $30,000 introduced as Capital into the business.
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!

Credit and debit entry [ 4 Answers ]

What is credit or debit entries.what type of entries we enter both?

Make a journal entry which is debit and which is credit? [ 4 Answers ]

How to make a journal entry what goes under debits and what goes under credits?

Debit, credit or both if a business owes a bank in A/P [ 2 Answers ]

If a person has a business and has borrowed money from a bank. In doing their book, how would they classify that transaction account. Would it be a debit, credit account or both

Debit & Credit entry for transactions [ 1 Answers ]

1.= Deposit of bank loan proceeds of $19,000 from 20,000 note: 2.- A check which previusly had been charged to office expense is to be voided. 3.- An error had been made by crediting sales for loan proceeds of $100 4.- An invoice for $100 was previously recorded in the purchase journal....

What do I debit/credit in journal entry/adjusting entry? [ 1 Answers ]

Hi. I am unsure about the correct way to debit/credit these entries. Can someone help me? Window Washing Company opened on July 1, 2010. During July the following transactions were completed: July 1 Issued 14,456 shares of common stock for $14,456 cash. July 1 Purchased used truck for...

View more questions Search