![]() Paid insurance premiums of Key personnel 1000 for five employees Paid Rent of plot to the owner of $ 15,000 Pass the journal entries for the following expenses in the books of ABC Limited for the year 2018-19: Sr No Journal Entries in the books of ABC limited Example #2 – Miscellaneous Expenses Let us take some examples of journal entries Examples Of Journal Entries A journal entry example would be the country's purchase of machinery, where the machinery account would be debited and the cash account would be credited. Amortization of Liabilities (Profit and Loss statement items). ![]() Amortization of Assets (Profit and Loss statement items).read more ( Both, Balance sheet and Profit and Loss statement items) This expenditure might be written off in the same financial year or over a period of a few years. Deferred revenue expenditures Deferred Revenue Expenditures Deferred revenue expenditure is the expenditure incurred in current accounting period but is realized in later accounting periods.Provisions (Both, Balance sheet and Profit and Loss statement items).Revenue Expenditure (Profit and Loss statement items).Capital expenditure Capital Expenditure Capex or Capital Expenditure is the expense of the company's total purchases of assets during a given period determined by adding the net increase in factory, property, equipment, and depreciation expense during a fiscal year.Expense Journal entry forms a significant part of:
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