Accounting transaction help?

Answers:1   |   LastUpdateAt:2012-10-22 20:56:03  

Question
chucke
Asked at 2012-09-13 08:05:07
Hi all, MedlinePlus MedlinePlus I have a small question that involves accounting transactions : MedlinePlus - On July 1 weapon Bob deposits $ 15, 000 cash in a bank account in the name of the company . Bob Trucks and rental services . Bob also contributed office and computer equipment valued at $ 5,000 . This team also had an attached bank loan in the amount of $ 2,000 . Bob had made ​​arrangements to pay interest only at the end of the month . The current interest rate is fixed at 7% annually . MedlinePlus MedlinePlus So for the first sentence makes sense and debit cash capital 15000 15000 . MedlinePlus MedlinePlus but the confusing part is after the second sentence , so I would greatly appreciate if anyone knew what accounts were affected by this transaction MedlinePlus MedlinePlus thx in advance
Answer1SungAnswered at 2012-10-22 20:55:04
The team , of course , go into the books as if acquired by the company 's owner, becomes a split transaction , from 3000 to 2000 and stockholders' equity of responsibility ( bank) if the company is assuming the debt , or about 5000 in equity ( ignoring the responsibility of the owner of the bank) if the debt remains with the owner instead of being taken by the company . MedlinePlus MedlinePlus I guess the company assumes the Bank loan and its interest expense . MedlinePlus MedlinePlus Each month , payment is due , we have to find the money in the bank account to pay , as interest expense . One would expect that also have to pay the bank first transaction , the bank account bank loan liability . MedlinePlus MedlinePlus The team is a depreciable capital account , so it must be configured with an accumulated depreciation account . While you only need a depreciation account for all equipment of a particular class , you can keep separate accounts if most classes contain only one or two pieces of equipment .
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