Nettet14. mar. 2024 · Therefore, the journal entry would look like this: DR Cash 300,000 CR Bank Loan Payable 300,000 Example 2 – Purchasing equipment journal entry Purchased equipment for $650,000 in cash. DR Equipment 650,000 CR Cash 650,000 To learn more, launch our free accounting courses. Example 3 – Purchasing inventory … NettetCurrently working as Sr. Executive – (Finance & Commercial) at Moin Group. Prior to that, I worked as a Finance Coordinator at Rangs Motors Ltd (A sister concern of Rangs Group). the leading automobile company in Bangladesh. - Almost 07 years of professional work experience from Rangs Group and Moin Group. - Hands-on experience …
Set up a loan in QuickBooks Online
NettetPlease prepare journal entry for interest expense and payment. At the end of the month, company has to calculate the interest expense. Interest expense = ($ 50,000 x 12%)/12 … Nettet15. mai 2024 · Accounting of Repossessed Assets. Assume the following facts: FI had a loan of Rs 1000 outstanding, which was in default. FI forecloses and repossesses the collateral, say a machinery, which is valued Rs 700 on the date of repossession. FI keeps the machinery pending disposal, and on the reporting date, the machinery is still in stock. flo supplement ingredients
Solved: How to Amortize Loan Origination Fee - QB Community
Nettet7. des. 2024 · For example, XYZ Company issued 12% bonds on January 1, 2024 for $860,652 with a maturity value of $800,000. The yield is 10%, the bond matures on January 1, 2024, and interest is paid on January 1 of each year. On January 1, 2024: DR Cash 860,653. CR Bond Payable 860,653. The issuance of the bond is recorded in the … NettetThe bank deposits the loan proceeds of $30,000 into the company's checking account at the same bank. The double entry to be recorded by the company is: 1) a debit of $30,000 to the company's current asset account Cash for the amount that the bank deposited into the company's checking account, and 2) a credit of $30,000 to the company's current ... Nettet7. des. 2024 · I have one loan that pays off a previous car loan. The new loan amount is $50.00 more that the payoff for the previous loan. I made the journal entry to debit the … flos wall lamp