Accounting, Office furniture classification?
August 18th, 2009 | by Michael |
Roman S4 asked:
Trying to figure out under what account do I classify office furniture.
Trying to figure out under what account do I classify office furniture.
The transaction says, bought office furniture on account for $1,200. So the accounts affected are accounts payable and?
2 Responses to “Accounting, Office furniture classification?”
By buz on Aug 21, 2009 | Reply
The debit would be to fixed asset account something like furniture and fixtures.
By madiver on Aug 23, 2009 | Reply
Your entries will be a debit to office furnature (a type of asset) and a credit to accounts payable.