Homework Help: accounting

Posted by jessica on Sunday, April 4, 2010 at 4:42am.

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:

http://search.yahoo.com/search?fr=mcafee&p=journal+entry+for+owner+using+equity+instead+of+cash

Sra
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.

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