If you are puchasing furniture from your business and want to use your own owners equity instead of cash what would be the journal entry if any
accounting - SraJMcGin, Sunday, April 4, 2010 at 9:19am
Here are some sites to try:
accounting - Biily, Sunday, April 4, 2010 at 4:53pm
it would be same as a cash purchase I think, you would just credit owner equity instead of cash.
accounting - Randy, Monday, April 5, 2010 at 9:11pm
biily is right, credit owner equity, debit the assets. Unless they're not listed, in which case there's no entry.