Accountancy, asked by raimabaidya16, 11 hours ago

Wat is the Journal of the Opening balance 10100?

Answers

Answered by taniamirzas20

What is the journal entry for opening balance?

Debits Increase Cash

When dealing with an asset account, such as cash, a debit entry to the account will increase its balance, while a credit entry will decrease it. The entry to record the opening balance of cash always requires a debit entry equal to the amount of cash your company receives.

Previous Question

Next Question

Similar questions

Physics, 6 hours ago

Obtain an expression for e.m.f. induced in a coil rotating with uniform angular velocity in uniform magnetic field. Show graphically the variation of e.m.f. over one cycle. OR Give theory of a.c. generator and derive an expression for an alternating e.m.f.

Math, 6 hours ago

A system has n resources r0,...,rn-1,and k processes p0,....Pk-1.The implementation of the resource request logic of each process pi is as follows: if (i % 2 == 0) { if (i < n) request ri if (i+2 < n) request ri+2 } else { if (i < n) request rn-i if (i+2 < n) request rn-i-2 }...

Physics, 6 hours ago

A body is allowed to fall on a steel plate from a height of 64 ft. It springs up to 36 ft. Its coefficient of restitution is.

Math, 11 hours ago

In a group of 100 students 40 are taking maths 30 are taking biology, anf are taking both algebra and biology. What is the probability that he or she is taking biology?

Math, 11 hours ago