debit Unissued Common Stock credit Authorized Common Stock
Stock split require no journal entry rather memorandum entry is required about transaction.
k
Debit pension expenseCredit cash / bank
Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank
debit Unissued Common Stock credit Authorized Common Stock
Stock split require no journal entry rather memorandum entry is required about transaction.
k
Debit pension expenseCredit cash / bank
debit cashcredit notes payable
Equipment is not actually bought using common stock rather it is purchased from cash by issuing common stock so journal entry is : [Debit] Equipment [Credit] Cash / bank
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
debit cash /bankcredit capital account
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.
Journal entry is the basic transaction to record the business transaction and without journal entry no record can be maintained.
Journal entry is required to record business transaction in books of accounts and without journal entry no business transaction can be recorded in books.