Communiquez avec les autres et partagez vos connaissances professionnelles

Inscrivez-vous ou connectez-vous pour rejoindre votre communauté professionnelle.

Suivre

Does the accrual method apply to the purchase of equipment?

user-image
Question ajoutée par Rana Alnajjar , Web developer , Lebcards
Date de publication: 2016/12/21
manseer muhammed ali
par manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

The accrual method does apply to the purchase of equipment (as well as applying to revenues and expenses). ... Under the accrual method, on December 29 the company should debit the asset account Equipment and credit the liability account Accounts Payable.

Abdullah Aziz Eldain Morsi  Elgendy -        CMA  Candidate
par Abdullah Aziz Eldain Morsi Elgendy - CMA Candidate , Regional Receivable Accountant , Amiantit Group of Companies

  yes it can be applied when the purchase done as on credit

More Questions Like This