Home
Basic Concepts
Basic Transactions
Double Entry Acc.
Accounting Cycle
Accounting Reports
Inventory
My Book
Questions
Dictionary
Your Voice
Free Newsletter
The Basics Blog
Contact Us
About the Author
XML RSSSubscribe To This Site

XML RSS
Add to Google
Add to My Yahoo!
Add to My MSN
Subscribe with Bloglines
 

Credit Balance for Bank on
Balance Sheet

by Heather
(Queensland, Australia)

Q: Where is 'Bank' entered on a balance sheet if it is has a credit balance (overdrawn)? Is it still an 'asset' with a cr amount posted or is it listed with the 'liabilities'?

A: It is listed with liabilities (the business is now lending from and 'owes' the bank).

Click here to post comments.

Join in and write your own page! It's easy to do. How?
Simply click here to return to Ask a Question About This Lesson!.






© Copyright 2009-2012 Accounting-Basics-for-Students.com. All Rights Reserved.

Click here for Privacy Policy.

SBI
SBI!

Search this site:


All the lessons on this site, plus much, much more...

Basic Accounting Book

The official Accounting Basics for Students e-book

Students

Subscribe to
The Student Accountant newsletter

Your E-mail Address
Your First Name (optional)
Then

Don't worry -- your e-mail address is totally secure.
I promise to use it only to send you The Student Accountant.

Stressed for your exams?

Maybe you need more
PRACTICE:

Financial exams

Bookkeeping Exam

Managerial & Cost Accounting Exams