In the adjusting entries

 In the adjusting entries if any entry consist of the following five then entry will be reversed otherwise not.

1..Prepaid/ Advance to supplier.
2...Supplies
3...Income Recieveable/ interest recieveable/ commission recieveable
If the above three are found in the debit , the entry will be reversed.


&
4... Payable(salaries payable, rent payable)
5...unearned income/ Advance from customer
If the above two are found in credit ,, the entry will be reversed.

Comments

Popular posts from this blog

Zarb E Azb Operation In Pakistan Essay In English

HBL PSL 2017 Essay