--%>

What do you mean by the term Entry

What do you mean by the term Entry in Accountancy?

E

Expert

Verified

Entry means you are permitted to come in the specific place. Similar meanings in accounting, we state, “Please pass the entry of this transaction." It signifies that please permit this transaction to enter in the books of company.

Therefore entry means to record the transaction in journal by debiting one account and crediting another account.

   Related Questions in Financial Accounting

  • Q : PPE The following information is taken

    The following information is taken from the financial statements of an entity: 20x4 20x3 Property, plant and equipment $4,600,000 $4,200,000 Accumulated depreciation (1,800,000) (1,350,000) Depreciation expense 560,000 Gain on disposal of PPE 65,000 The asset disposed of had a cost

  • Q : Euro-medium-term-note market State

    State difference between the Euro-medium-term-note market, the Euro note market, and the Euro commercial paper market?

  • Q : Explain Project Accounting Project

    Project Accounting: It is sometimes termed to as job cost accounting and is the practice of making financial reports particularly designed to track financial growth of projects, which can then be utilized by managers to support project management.

  • Q : Czc Prepare journal entry to record

    Prepare journal entry to record acquisition of four assets

  • Q : Bankruptcy A legal process that allows

    A legal process that allows a debtor, either a person or a business, to redundant some or all of the debt. The normal process involves selling asset and using the proceeds to pay off creditors in an order and/or in an amount determined by a judge. Some types of bankru

  • Q : Dimensions of Creativity What are the

    What are the dimensions of creativity in the Creative Field ?  

  • Q : Explain Direct expenses Explain Direct

    Explain Direct expenses. Also write its main illustrations?

  • Q : Balance per bank What does Balance per

    What does Balance per bank signify?

  • Q : Case study of a local public utility

    The local public utilities commission has been charged with inspecting and reporting utility problems in the area. They have three electrical inspectors and two gas inspectors, each available for 40 hours , to analyze structures in their respective areas of expertise.

  • Q : Matlab Applications in Image and Video

    Image and video processing is most difficult topic in electrical and electronics field. This topic becomes trickier if you are taking use of Matlab in this. Student faces a lot of problem in image and video processing theories. If you are messed up with same difficulties