India What will be the journal entry?


Joined
Nov 30, 2018
Messages
2
Reaction score
0
Country
India
What will be journal entry of the following ==> Owner pay from personal credit card ₹1000 for travel expense. Then withdraw money ₹1000 from company bank account via bank xfr to his personal account?
 
Ad

Advertisements

AGH the CPA

VIP Member
Joined
Jun 16, 2017
Messages
107
Reaction score
13
Country
United States
Owner needs to submit expense report for travel. Entry to account for wire transfer should be

DR travel expense accounts (usually broken out by hotel, air, care rental, meals etc)
CR bank (for wire)
 
Joined
Nov 30, 2018
Messages
2
Reaction score
0
Country
India
Owner needs to submit expense report for travel. Entry to account for wire transfer should be

DR travel expense accounts (usually broken out by hotel, air, care rental, meals etc)
CR bank (for wire)
But what in case if expense are made but doesn't claim by owner it must be there as capital liability
 
Ad

Advertisements


Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

what exactly are journal entries for? 1
Journal Entries 0
journAL ENTRIES 3
Journal Entries 0
journal entry 1
Journal Entries 2
Journal Entries 1
Journal Entries 1

Top