--%>
Assignment Help - homework help

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 : Define Revenue Revenue : The amount

    Revenue: The amount (sum) of money which a company really receives throughout a specific period, comprising discounts and deductions for the returned merchandise. This is the "top line" or "annual income" figure from which costs are subtracted to find

    		•
  • Q : Calculation of NPV Calculation of NPV:

    Calculation of NPV: Calculation of NPV is done through the same method of discounting as described above. However in this case the rate is predefined for  discounting. It is the cost of overall long term resources, whether debt or equity. This co

    		•
  • Q : Demerits of implementing Uniform Costing

    Write down the demerits of implementing Uniform Costing?

    		•
  • Q : Quick establishment of the interest

    If cost advantage of the interest rate swaps might likely be arbitraged away within the competitive markets, what other explanations exists in order to describe quick establishment of interest rate swap market?

    		•
  • Q : Explain Due Diligence Due Diligence: 1.

    Due Diligence:1. General: Assess of prudence, accountability, and diligence which is expected from, and ordinarily exercised by, a reasonable and prudent person beneath the situations.

  • Q : Capital budgeting analysis imperative

    State why is capital budgeting analysis so imperative for the firm?

    		•
  • Q : Advantages for giving Cash Discount

    What are various advantages for giving Cash Discount?

    		•
  • Q : Standard costing is a separate system

    Wheather it is correct or not that standard costing is a separate system in accounting?

    		•
  • Q : What is Assets in Accounting Assets are

    Assets are those resources that the business owns. Assets are the things of value owned which enable the firm to get cash or befit in future. There are mainly two types of assets: - Current assets & Fixed assets for e.g. cash, f

    		•
  • Q : Multiplicity-Creativity as process

    Define the term Multiplicity (Creativity as process) in creative industry ? And also state the different personality traits and intellectual aptitudes which might contribute to creative thinking ?

    		•