What is debitor What is depreciation What is the Journal Entry of Sending goods as donation

Question

Accepted Answer

Answering questions related to accounting and journal entries.

Debitor is a person or entity who owes money to another person or entity.
Depreciation is the decrease in value of an asset over time due to wear and tear or obsolescence.
The journal entry for sending goods as donation would be to debit the donation expense account and credit the inventory account for the cost of the goods donated.

Accepted Answer

A debtor is a person or entity that owes money to a business or individual. Debtor arise when a business sells good or service on credit 
Depreciation -it is recorded as an expense in the book of account ex-machinery loses value every year due to usage.
Journey -the journey entry depends on whether the good are sent as a sale or transfer

Accepted Answer

A debtor is a company or individual who owes money to a lender and is also often referred to as a borrower. Read about laws that protect debtors.Depreciation allows a business to allocate the cost of a tangible asset over its useful life for accounting and tax purposes. When you make a donation of your own products or inventory, keep in mind that you are giving away a product, not selling it. To record this type of donation, debit your Donation account and credit your Purchases account for the original cost of goods.

Accepted Answer

Debtor: A person, business, or other organization that owes money to another party is referred to as a debtor, also known as an accounts receivable.

Depreciation is an accounting technique used to spread out the cost of tangible assets (such structures, equipment, vehicles, etc.) over the course of their anticipated useful lives.

Accepted Answer

Debtor: A person, business, or other organization that owes money to another party is referred to as a debtor, also known as an accounts receivable.

Depreciation is an accounting technique used to spread out the cost of tangible assets (such structures, equipment, vehicles, etc.) over the course of their anticipated useful lives.

Accepted Answer

Debitor is a person whom was going take the money from the creditor to startup a new business capital and depreciation means decreasing the value of assets is called depreciation and journal entry is cash ac Dr to sales ac cr

What is debitor What is depreciation What is the Journal Entry of Sending goods as donation

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