Supplies owned in inventory reduced by AED 2000, but recovered by peter's capital. what is the journal entry?

Question added by Ahsan Ishtiaq , Junior Accountant , American School of Creative Science
Date Posted: 2017/10/18

Upvote (0) Views (2) Followers (2) Answers (2) Report Question

by mahmoud shamaly , senior , Swiss garments company (Arafa Holding)

W.IP. a/c 200 to inventory Inventory a/c 200 to capital

by Ahsan Ishtiaq , Junior Accountant , American School of Creative Science

Drawings Dr

To Inventory Cr

Journal entry for new start up company?
Top Answer: Start Up Debit (Assets) Cash (Credit) desl with this like Fixed assetes and depreciated See More

Answers (3)
Required: Give journal entries and prepare balance sheet.?
Top Answer: Accounting entries at the time of issue of debentures is as follows Dr. Cash/Bank 1 Cr. Debenture ... See More

Answers (2)
What is the purpose of Journal Entries?
Top Answer: Journal entries provide foundational information for all other financial reports and are used by audito ... See More

Answers (37)
When are we using journal entries on bank reconciliation?
Top Answer: For adjusting entries we pass the journal entries in BR, eg:- Bank service charge for maintaining the acc ... See More

Answers (7)

Do you need help in adding the right keywords to your CV? Let our CV writing experts help you.