In the process of accounting personnel's daily handling of accounts, most of the accounting entries are made by borrowing one loan, borrowing more than one loan, or borrowing more than one loan. What are the accounting entries of "one loan and more debits"? Today, I will give you some examples.
Examples of accounting entries with one loan and multiple debits
1. Accounting entries of purchased raw materials
Debit: raw materials
Tax payable - VAT payable (input tax)
Credit: bank deposits/notes payable, etc
Accounting entries for disposal of fixed assets
When the book value of fixed assets is transferred into fixed assets liquidation:
Debit: disposal of fixed assets
Accumulated depreciation
Fixed assets depreciation reserves
Credit: fixed assets
Expenditures such as clearing costs:
Debit: disposal of fixed assets
Tax payable - VAT payable (input tax)
Credit: bank deposit, etc
What does one loan and multiple debits belong to?
Here we need to understand the classification of accounting entries, including simple accounting entries and composite accounting entries. A simple accounting entry refers to an accounting entry that only involves one account debit and another account credit, that is, one debit and one credit; A compound accounting entry is an accounting entry consisting of two or more corresponding accounts, that is, one debit and multiple credits, one credit and multiple debits, or multiple debits and multiple credits.
Therefore, one loan and multiple debits belong to composite accounting entries.
What is debit and credit bookkeeping?
The meaning of debit and credit bookkeeping refers to a double entry bookkeeping method that uses the accounting equation as the basic principle of bookkeeping and uses the debit and credit two bookkeeping symbols to reflect the changes in the economic business process. At present, the debit and credit bookkeeping method has been widely used. The daily accounting of enterprises is done through the preparation of accounting equations. It is worth noting that the bookkeeping object of the debit and credit bookkeeping method is no longer restricted to the relationship between creditor's rights and debt, and it can also calculate the operating profit and loss of registered enterprises and the increase and decrease of property and materials.
Under debit credit bookkeeping, all account structures are debit on the left and credit on the right. However, debit and credit only indicate the direction of bookkeeping, and the nature of the increase or decrease in the quantity of accounting elements reflected by them is not fixed.
The bookkeeping rule of debit credit bookkeeping method is "where there is a debit, there must be a credit, and debit and credit must be equal". Otherwise, there will be imbalance between the two sides. The recorded accounts can be of the same type or different accounts.
I just learned accounting. I don't understand the accounting entries of one loan, one loan, multiple loans, multiple loans, and multiple loans. Can you give me some examples? More details
Hello, please see the following list: one loan and one loan: debit: bank deposit
Credit: cash on hand - one debit and multiple credit: debit: bank deposit
Credit: cash on hand
Multi borrowing and multi lending of other monetary funds: debit: bank deposit
Cash on hand
Credit: main operating income
Tax payable - VAT payable (output tax)
What does one debit multi credit accounting entry belong to
Here we need to understand the classification of accounting entries, including simple accounting entries and composite accounting entries. A simple accounting entry refers to an accounting entry that only involves one account debit and another account credit, that is, one debit and one credit; A compound accounting entry is an accounting entry consisting of two or more corresponding accounts, that is, one debit and multiple credits, one credit and multiple debits, or multiple debits and multiple credits.
Therefore, one loan and multiple debits belong to composite accounting entries.