Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
Liabilities are decreased by a debit entry...typically a cash payment (Dr. the liability; Cr. Cash)
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Asset.
ASSET
Cash discounts are a liability.
Assets = Cash, Accounts Receivable, Supplies, etc. Liability =
Yes, cash received is an asset while stock issued is liability. Cash is asset because this cash now be use for the business benefit.
No
Liabilities are decreased by a debit entry...typically a cash payment (Dr. the liability; Cr. Cash)
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Asset.
ASSET
no
income tax liability is not part of cash flow statement rather it is part of balance sheet.
no it just decreases cash
is an asset