Question: how do you enter the following as a journal entry. The business owner took out a small business loan in the amount of $25,000.

how do you enter the following as a journal entry. The business owner took out a small business loan in the amount of $25,000.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

1) Two all around enhanced portfolios An and B (all quirky danger has been differentiated away) have 1) expeccted returns of 12% and 9% separately. The Beta for Portfolio An is 1.2 while the Beta for...

Q:

Old MathJax webview Old MathJax webview Old MathJax webview Old MathJax webview i have been adding the full image should i just post a new question? i have resubmitted with a full pic Details Amount...

Q:

QUESTION 1: General Journal entries Hal Oumi is the sole proprietor of "Gastronomic Delights", a business providing catering services for weddings, special events, corporate functions and private...

Q:

Question 2 How to put information from the journal onto the general ledger ACCT1008 SP2 2021 Assignment Part A (Protected View) - Microsoft Word X File Home Insert Page Layout References Mailings...

Q:

9B17M165 DALMIA BHARAT: SOCIAL RETURN ON INVESTMENT Urkarsh Majmudar and Namrata Rana wrote this case solely to provide material for class discussion. The authors do not intend to Wustrate either...

Q:

I have included all of the instruction in the attached document. (1) Transactions made by Huddleston Co. for the month of March are shown below. 1. The company performed $23,920 of services for...

Q:

Multiple Choice: Select the best answer 1. Among the chief advantages of forming a business as a corporation is that A) Corporation can be formed any time with any number of shareholders. B) The...

Q:

QUESTION 2: General Ledger posting (10 marks) "Shiny Whites is a dental practice owned and operated by Dr. Phil McCavity. The journal entries listed below for the month of July 2020 have already been...

Q:

5 Moodle at Southeastern X M 2233_ACCT411_01_2905: No ACC X earnings management and fraud X + V O X C @ File |...

Q:

FREDERICKS OF HOLLYWOOD PP&E ANALYSIS Read the case material and answer the following questions: 1. What types of long-term assets does Fredericks of Hollywood own? 2. The 1996 balance sheet shows...

Q:

What factors limit the use of the fixed-asset turnover ratio in comparative analyses?

Q:

Which of the following expenditures is tax deductible? A). capital expenditures B). expenses related to tax-exempt income C). expenses related to a trade or business D). expenses that are illegal or...

Q:

62. Anew automated production process averages 1.5 breakdowns per day. Because of the cost associated with a breakdown, management is concerned about the possibility of having three or more...

Q:

Find the radius of gyration of a plate covering the region bounded by x=3, x=5, y=0, and y=4 with respect to the y-axis.

Q:

Outline some key aspects and contemporary issues in IHRM

Q:

Explain the symptoms and causes of job stress and what an organization can do to alleviate them.

Q:

Explain how an HR professional can justify a workplace wellness programme.