Question

Constructed a shed journal entry

Answer 1

❤ EʟʟᴏᴏO ❤

A ᴊᴏᴜʀɴᴀʟ ᴇɴᴛʀʏ ɪs ᴋᴇᴇᴘɪɴɢ ᴏʀ ᴍᴀᴋɪɴɢ ʀᴇᴄᴏʀᴅs ᴏғ ᴀɴʏ ᴛʀᴀɴsᴀᴄᴛɪᴏɴs ᴇɪᴛʜᴇʀ ɪᴛ ɪs ᴇᴄᴏɴᴏᴍɪᴄ ᴏʀ ɴᴏɴ ᴇᴄᴏɴᴏᴍɪᴄ Tʀᴀɴsᴀᴄᴛɪᴏɴ ɪɴ ᴀɴ ᴀᴄᴄᴏᴜɴᴛɪɴɢ ᴊᴏᴜʀɴᴀʟ ᴛʜᴀᴛ sʜᴏᴡs ᴀ ᴄᴏᴍᴘᴀɴʏ's ᴅᴇʙɪᴛ ᴀɴᴅ ᴄʀᴇᴅɪᴛ ʙᴀʟᴀɴᴄᴇs. Tʜᴇ ᴊᴏᴜʀɴᴀʟ ᴇɴᴛʀʏ ᴄᴀɴ ᴄᴏɴsɪsᴛ ᴏғ sᴇᴠᴇʀᴀʟ ʀᴇᴄᴏʀᴅɪɴɢs, ᴇᴀᴄʜ ᴏғ ᴡʜɪᴄʜ ɪs ᴇɪᴛʜᴇʀ ᴀ ᴅᴇʙɪᴛ ᴏʀ ᴀ ᴄʀᴇᴅɪᴛ.

Answer 2

Journal Entry

Explanation:

                       Books of (---Limited)

                              Journal Entry

Date    Account Title and Explanation        Debit   Credit

         Shed                                  A/c Dr.          xxx

            To Cash / Bank               A\c                           xxx

            (Being construction of shed is paid in cash or bank)

Explanation: Construction of shed will create assets fro company

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