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Is office furniture a credit or a debit?
credit
What is the journal entry for extraordinary loss?
If extraordinary loss is on a/c of furniture & fixtures, then instead of crediting purchases, furniture & fixtures should be credited.
Is furniture and fixture debit or credit?
Neither, it is an object
The balance of a furniture and equipment account a debit or credit?
It is a debit balance. Furniture and Equipment accounts are included in an individuals assets and asset accounts have debit values.
What is the journal entry for furniture purchased?
[Debit] Furniture [Credit] Cash / bank
Journalize entries for Trade-in Of Old Fixtures For New Ones in accounting?
[Debit] New Fixture [Debit] Accumulated-Depreciation Old Fixture [Debit] Loss on sale of old fixture (if any) [Credit]Old Fixture [Credit]Cash/Bank [Credit] Profit on sale of old fixture (if any)
What will be the journal entry Office Furniture purchased with gift cards?
[Debit] Office furniture [Credit]Owner equity / Retained Earnings
Are wall finishes and carpet examples of furniture and fixtures?
No, furniture and fixture would be furniture, appliances, lighting fixtures, bathroom fixtures I think, things that are added to the structure.
What furniture and fixtures qualify to put on a financial statement?
Does new windows come under furniture & fixtures?
Is prepaid insurance a debit or credit?
Debit
Are telephones considered furniture and fixtures?
no
Does cash on hand have a debit or credit balance?
credit
