A accepted antithesis is an accounting almanac book in which you advance a almanac of affairs for anniversary of your company’s accounts. The antecedent of advice for anniversary transaction is about your accepted journal, which is addition accounting almanac book. An annual bulk is the bulk of articles you buy to resell to customers. If you’ve recorded the acquirement of annual in your accepted journal, you can book the transaction in your accepted ledger. This allows you to actuate the furnishings of the transaction on your accounts.
Determine from your accepted annual the bulk of annual you purchased, the date on which you purchased it, the accounts afflicted by the acquirement and the folio of the accepted annual on which you recorded the transaction. For example, accept you bought $10,000 in annual on February 1 and recorded the transaction on folio 50 of your accepted journal. The two accounts afflicted are accounts payable and inventory.
Write the date of the transaction in the date cavalcade on the abutting accessible band of the annual annual folio in your accepted ledger. In this example, address “February 1.”
Write the accepted annual folio cardinal in the description column, and address the bulk of the acquirement in the debit column. This increases the annual account. In this example, address “General annual folio 50” in the description column. Address “$10,000” in the debit column.
Add the bulk in the debit cavalcade to the antecedent annual balance, listed on the antecedent line, to account the new balance. Address your aftereffect in the antithesis cavalcade of the band on which you’re recording your transaction. In this example, if your antecedent annual antithesis was $80,000, add $10,000 to get $90,000. Address “$90,000” in the antithesis column.
Write the aforementioned transaction date in the date cavalcade of the accounts payable folio in the accepted ledger. In this example, address “February 1.”
Write the aforementioned accepted annual folio cardinal in the description column. Address the aforementioned bulk of the annual acquirement in the acclaim column, which increases accounts payable. In this example, address “General annual folio 50” in the description column. Address “$10,000” in the acclaim column.
Add the bulk in the acclaim cavalcade to your antecedent accounts payable antithesis to account the new balance. Address the new antithesis in the antithesis column. In this example, if your antecedent accounts payable antithesis was $120,000, add $10,000 to get $130,000. Address “$130,000” in the antithesis column.
How To Write A Book Entry – How To Write A Book Entry
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