Online Degrees and CLEP and DSST Exam Prep Discussion › Miscellaneous › Off Topic › What does this Flashcard mean or Do this math problem for me v
Loans, Part 3, Question 14

Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Thread Modes
Loans, Part 3, Question 14
Matymus Offline
Senior Member
****
Posts: 419
Threads: 24
Likes Received: 1 in 1 posts
Likes Given: 0
Joined: Sep 2006
#4
06-28-2007, 10:59 AM
snazzlefrag Wrote:You are not wrong on this one Matymus,

Assuming that the loan is made TO the company, it would INCREASE (debit) the cash account (current asset). At the same time, it would also INCREASE (credit) the Bank Loan Payable account (current liability).

Hope that helps,
Snazzlefrag

Good!! That's what I thought! I'm no CPA, but man...I like to at least think I have SOME accounting knowledge.
Big Grin Matymus Primehilarious
Waterloo, NY
Excelsior College
B.S. General Business, Class of 2008


Fall 2011 - currently pursuing Pre-Pharmacy
Website Find
Reply


Messages In This Thread
Loans, Part 3, Question 14 - by mstcrow5429 - 06-27-2007, 02:55 PM
Loans, Part 3, Question 14 - by Matymus - 06-27-2007, 03:33 PM
Loans, Part 3, Question 14 - by snazzlefrag - 06-27-2007, 03:43 PM
Loans, Part 3, Question 14 - by Matymus - 06-28-2007, 10:59 AM

Possibly Related Threads...
Thread Author Replies Views Last Post
  A complex probability question Number_Theory 4 1,641 12-03-2021, 11:46 AM
Last Post: freeloader
  Question of college algebra inertia2018 3 2,465 05-02-2019, 07:30 PM
Last Post: dfrecore
  SL Accounting Question Mab81 3 2,644 07-06-2018, 08:10 PM
Last Post: Mab81
  Time and Distance question CLEP101 5 3,470 03-22-2018, 12:37 PM
Last Post: bluebooger
  IC Flashcard Question gnat1001 2 2,970 05-03-2017, 05:08 PM
Last Post: sanantone
  Statistics Question re: Mean soliloquy 6 3,180 08-04-2014, 01:31 PM
Last Post: Jonathan Whatley
  Probability Formula Question soliloquy 4 2,474 07-30-2014, 07:50 PM
Last Post: jdsdog10
  Principles of Finance sample question from TESC - which formula to use? OfficerA 0 1,795 07-20-2014, 08:34 PM
Last Post: OfficerA
  APA Citation question JanusthePhoenix 5 3,357 12-03-2009, 03:04 AM
Last Post: JanusthePhoenix
  Microeconomics CLEP question? MCunningham 0 2,435 06-30-2009, 11:00 PM
Last Post: MCunningham

Forum Jump:


Users browsing this thread: 1 Guest(s)