assets and liabilities examples

Business and Personal Finance: Liabilities Are What Your Company Owes

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The Accounting Equation – Liabilities Are What Your Company Owes Most businesses owe something to someone. Whether you take out a bank loan to start the company, use a company credit card to pay for expenses, or buy your inventory from vendors on account, your company will show liabilities on the balance sheet. Even if … Read more

Business and Personal Finance: Every Business Has Assets

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The Accounting Equation – Every Business Has Assets No matter how small your business, no matter what industry your company is part of, your company has assets. From a computer used to prepare customer invoices to a 20,000-square-foot processing plant, every single thing your company owns is an asset, as long as you can assign … Read more