A calculator is a stationery item. It's part of office supplies. We recognize it as an expense. So, we will write off the entire amount in the same year in the Statement of Profit and Loss. What are the other possibilities? Accounting isn't the same for all … [Read more...] about Purchased Calculator Journal Entry
Purchased Building Journal Entry
Purchased Building Journal Entry The building is a fixed asset It’s a medium wherein business operational activities are carried on. What’s the Purchased Building Journal Entry? We can record this building purchase in two approaches. The building can be … [Read more...] about Purchased Building Journal Entry
Machinery Purchased Journal Entry
Machinery Purchased Journal Entry Machinery is a Fixed asset. It helps in achieving business objectives. Of course, Profits too! We does not you to keep scrolling for the entry. Machinery Purchased Journal Entry We can record the Journal entry in two … [Read more...] about Machinery Purchased Journal Entry
Cash in Hand Journal Entry
Cash in hand is the physical Cash kept within the Finance or Cash department. It's an asset to the business. Cash at the Bank is different from the Cash in hand. What's the primary purpose? To meet the petty expenses. What does petty expense … [Read more...] about Cash in Hand Journal Entry
Insurance Claim Received Journal Entry
Insurance Claim Received Journal Entry Insurance claim is made due to happening of an event orthe death of the policyholder Here, happening of event meaning depends on policy. For example, own damage or damage due to road accident for a car are the events that … [Read more...] about Insurance Claim Received Journal Entry
