Answers
Related Questions
For each of the transactions in items 1 through 5, indicate the effects on the
accounting equation elements.
5. The company repays the bank loan with cash - The Liability account does the
following:
O Increases
Decreases
O No effect
Answers
Answer:
Decreases
Explanation:
because when you pay a loan your debt goes down.
and I just did it and got it right
The company repays the bank loan with cash - The Liability account does decreases. Hence option b is correct.
What is bank loan?Bank loan is defined as a sum of money that a bank lends to a borrower at interest, typically with collateral security, for a set length of time. In essence, it's an agreement between the borrower and the bank over a specified sum of money that the borrower will take out and subsequently repay in definite amounts at a specific interest rate.
The accounting equation will be affected if a corporation settles its liability by making cash payments to its creditor. First, as the asset component of the accounting equation declines, the liability component also does so. Cash is an asset for a business, and it will depreciate by the same amount as a liability.
Thus, the company repays the bank loan with cash - The Liability account does decreases. Hence option b is correct.
To learn more about bank loan, refer to the link below:
https://brainly.com/question/29032004
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The outer layer of the skin is called
Answers
Answer:
epidermis
Explanation:
it consists of 3 types of cells:
1. squamous
Psychology help me for brainliest
Answers
Most land mammals have the ability to rest one hemisphere of their brains at a time.
Answers
Answer:
F is for False
Explanation:
E2020
What color is New England on the map?
