Describe about borrowed money, Accounting Basics

Assignment Help:

Q. Describe about Borrowed money?

The company lent USD 6000 from Chaney's father. Chaney signs the note for the company. The note turn off no interest and the company promised to repay recorded as a note payable the amount borrowed within one year. Subsequent to including the effects of this transaction the basic accounting equation is

2331_Describe about Borrowed money.png


Related Discussions:- Describe about borrowed money

IAS 40, what are the limitation

what are the limitation

Describe about post-closing trial balance, Q. Describe about post-closing t...

Q. Describe about post-closing trial balance? A post-closing trial balance is trial balances taken subsequent to the closing entries have been posted. The only accounts that mu

barter transactions, How to create account for barter transactions? As My ...

How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.

Give the journal entry to correct scranton''s books , On 11/1/05 the Scrant...

On 11/1/05 the Scranton Electric Company issued a check in the amount of $36,000 to the Fly By Night Insurance Company. The amount represented the total premiums on a liability ins

Define the opportunity cost, Q. Define the Opportunity cost? Opportunit...

Q. Define the Opportunity cost? Opportunity cost -- a useful notion in evaluating alternate opportunities. If you choosealternative A, you can't choose B, C, or D. What is the

Cash flow statement and accounting information systems, 1. My accountant ha...

1. My accountant has told me that my business made a profit of £100,000 last year. However over the same time period my bank balance has decreased and not increased as I expected.

Financial reporting about the economic resources, Q. Financial reporting ab...

Q. Financial reporting about the economic resources? The third financial reporting should provide information about the economic resources of an enterprise the claims to those

Role and activities of an accountant, Having discussed the possibility of a...

Having discussed the possibility of accounting and its emerging function, we are currently in a position to illustrates as to who is an accountant. In an attempt to reply this ques

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd