Term Papers on Accounting 101 from Term Papers Lab.
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Financial Accounting
Unit 1 Business and the Role of Accounting
A.) D.C. Dawg starts his own business and contributes $6000.00
This shows in the statement of cash flows and it shows in the owner's equity in looking at total assets D.C. has a ratio of 3:1 dollars invested over his liabilities. For every dollar borrowed he has put up three of his own dollars. As a lender I would see this as a positive.
B.) The Cats and Dogs Company borrowed $2000.00 from the bank on March 1. This is a 1-year, 12% note, with both principal and interest to be repaid on February 28 of the next year.
This shows in the balance sheet under liabilities. I think it's a positive that this is first a small loan, and second that The Cats and Dogs Company has made $900.00 in revenue in its first month. I don't see why this loan can't be paid off on time, if not before it's due.
C.) The company earned $900.00 in revenue.
This shows in accounts receivable and is an asset. Revenue is good, but a......
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Title: Accounting 101
Approximate Word Count: 385
Approximate Pages: 2 (250 words per double-spaced page)
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