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Question about accounting

301 views 2 replies

AshleyTr

Mr

40 Points Posted on 25 November 2019

Hey guys, do you know how should I make a journal entry if I bought a santa claus statue to our business as our Christmas Decoration?

.......................................................................................................................

Replies (2)

RAJA P M

"Do the Right Thing...!!!"

128152 Points Posted on 25 November 2019

Dr. Festival Expense (under indirect expense)

Cr. Bank / cash

or

Dr. Festival Expense (under indirect expense)
Cr. Supplier name...

Kapadia Pravin

17264 Points Posted on 25 November 2019

Entry will either be by Payment voucher (cash/bank) or Journal voucher ( if it is credit purchase)

Expenses A/c Dr.
To cash/bank
or
To Party Account

Note that it should be incurred for the purpose of business only and it's reasonableness.

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