Why in the preparing of accounts is money paid into a bank account posted as a debit?
For example, money paid by a company/business for petrol, could be debited to a petrol account and would be credited to the bank account. Why not vise versa?
Corporations - 1 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
A debit is one of three things: an increase in an asset a decrease in a liability an expense. A credit is also one of three things: an increase in a liability a decrease in an asset an item of income. Hang on the definitions above...it really will help! Payment for petrol is an expense (so debit to the petrol account) and the corresponding double entry is credit cash, assuming you pay by cheque (it's a decrease in an asset, the asset being the cash you have at the bank). When you pay cash in to your bank account, it's an increase in your asset (you have more cash at the bank). You credit whoever paid it to you. It takes a while for the penny to drop (no pun intended!), but once you get a bit more used to dealing with balance sheets, profit and loss accounts etc it becomes easier to see how the bits of the jigsaw fit together.
Read more other entries :
Tuesday, January 14, 2014
Tuesday, January 7, 2014
How many accounts can you register with a COD 5 product key?
How many accounts can you register with a COD 5 product key?
For PC, how many online accounts can you sign up using one registration code? On some games recent games, they've allowed people to sign up to 3 accounts per game copy. Thanks for reading!
PC - 4 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
1....hahahahahahahahahahaahahaaha
Answer 2 :
Technically as many as you want... problem is when you come to play the game, if there is someone online at the same time it will register that there are 2 (or more) of the same key and won't let you play, and is more likly to ban that key so no one can use it.
Answer 3 :
ONE
Answer 4 :
I think its 1 personaly but ppl were saying they got 10 or 5 or 2 etc so ya
Read more other entries :
Wednesday, January 1, 2014
In accounting, does a 2-for-1 stock split...?
In accounting, does a 2-for-1 stock split...?
Require a journal entry? Also, does the number of shares outstanding decrease?
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Require a journal entry? since asset neither increased nor decreased, I'd say no but not sure. Also, does the number of shares outstanding decrease? Since it's same amount, I'd say remain the same but not sure.
Answer 2 :
Since you specify 'split', I assume you mean each existing old share is exchanged for 2 news shares, so plainly the number of share outstanding doubles. Since number of shares are factored into Earnings per Shae calculations, plainly the fact of the split has to be recorded somehow, so i would say 'yes' (you would show all the old shares being canceled, new ones issued)
Answer 3 :
Answer: Stock split does not require a journal entry. It only requires memorandum entry (notes). Total number of shares outstanding will decrease but the total stockholders' equity remains the same.
Read more other entries :
Require a journal entry? Also, does the number of shares outstanding decrease?
Other - Business & Finance - 3 Answers
People Answers, Critics, Comments, Opinions :
Answer 1 :
Require a journal entry? since asset neither increased nor decreased, I'd say no but not sure. Also, does the number of shares outstanding decrease? Since it's same amount, I'd say remain the same but not sure.
Answer 2 :
Since you specify 'split', I assume you mean each existing old share is exchanged for 2 news shares, so plainly the number of share outstanding doubles. Since number of shares are factored into Earnings per Shae calculations, plainly the fact of the split has to be recorded somehow, so i would say 'yes' (you would show all the old shares being canceled, new ones issued)
Answer 3 :
Answer: Stock split does not require a journal entry. It only requires memorandum entry (notes). Total number of shares outstanding will decrease but the total stockholders' equity remains the same.
Read more other entries :
Subscribe to:
Posts (Atom)