Accounting

Hey Billy Bob! I definitely agnise that you be extremitying to expand your note and I also sympathize that you command a loan from the banking company in stage to make the expansion happen. However, the bank requires monetary teachings in fond club to be secure in knowing that you result be able to net income the loan venture to them. The bank cannot but take your word that you are going to pay back your loan in an acceptable follow of time. Instead, they need to slang solid figures and accurate documentation that can march to your credibility and ability to repay the money that they lend let out to you. pecuniary statements are documents that include income statements, statements of possessors rightfulness, and poise tacks. An income statement shows the net income (profit) or net loss (expense) for your note at the end of a specific time outcome. crystallize income is the amount of profit that your tune earned for a period in time. Net income is th e deficit of money that your business has for a prone time period. The statement of owners rightfulness shows the scratch balance and the ending balance of a business owners equity accounts. A balance sheet shows the assets, liabilities, and your equity in the business on a tending(p) date. An assets is a resource that can be used for time to come sparing gain.

A liability is a financial responsibleness that the business has. Owners equity is the numerate assets electronegative the total liabilities of your business. I also see that you have not been care any financial records for your business. It is importa nt to keep financial records because they s! et aside you to monitor the progress of your business and makes it easier for an restrainer to orchestrate your financial statements. Also, financial records identify sources of receipts, keep surmount of deductible expenses, and nurture items reported on your tax returns. In order to prepare your financial statements, you need to know which initiation of accounting is some appropriate for your particular situation. The two methods for...If you want to get a full essay, order it on our website: BestEssayCheap.com

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