Finance

Have finance questions? Ask a financial expert online.

Ask an Expert,
Get an Answer ASAP!

Related Finance Questions
Lane - as mentioned prior, I own an s-corp (retail shop) in
Lane - as mentioned prior, I own an s-corp (retail shop) in North Carolina and I'm looking for some second thoughts on how I'm handling some "benefits". When my spouse and I did our divorce agreement … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
I'm drawing a blank on how to record the payment of a loan.
I'm drawing a blank on how to record the payment of a loan. I lent my company money at startup and I am paying it back instead of taking a salary. But as I said, I can't remember how I account for it … read more
ABC Accounting Group
ABC Accounting Group
Bachelor's Degree
871 satisfied customers
I dissolved a S-corp and disposed of all assets. Do I create
I dissolved a S-corp and disposed of all assets. Do I create journal entries for asset accounts (debit accumulated depreciation and credit asset accounts) to zero them out? Do I have to file any form … read more
PDtax
PDtax
Owner
Master's Degree
4,292 satisfied customers
I had a line of credit for a property I bought and payments
I had a line of credit for a property I bought and payments used to be made by my business (S Corp), so my previous accountant listed it as a business liability. SInce 01, I assumed payments for the L… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
Regarding the corporation that quit claim the property to
Regarding the corporation that quit claim the property to LLC; I booked building and closing costs as a basis in the asset section. The loans from the shareholder, and mortgage payable in a liability … read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
I work as a bookkeeper, we use Quick books Pro Plus. The
I work as a bookkeeper, we use Quick books Pro Plus. The owner purchased a car this year. I am tracking the monthly payments under long term liability - note payable. When I run a P&L report the payme… read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,328 satisfied customers
There is a financed vehicle that appears on company's
There is a financed vehicle that appears on company's balance sheet as a fixed asset… Original cost $25,150.21 with accumulated depreciation of - $6,932.00 for total vehicle of $18,218.21.The vehicle … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,328 satisfied customers
I have a form 1065 partnership. The schedule L is out of
I have a form 1065 partnership. The schedule L is out of Balance $310, 831, software stating assets don't equal liability and equity. (Ending Sch L shows 842,437). I have verified the amounts in Line … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,328 satisfied customers
How to add goodwill to exisiting c corp, Selling a business
Selling a business goodwill but have no cost basis on books from prior accountant … read more
Mark Taylor
Mark Taylor
Certified Public Accountant
Masters
2,328 satisfied customers
BUSINESS OWNER AND DOING MY YEAR END REVIEW PROCESS I WAS
i AM A BUSINESS OWNER AND DOING MY YEAR END REVIEW PROCESS I WAS REVIEWING MY FINANCIAL STATEMENTS. I BELIEVE THAT THERE WERE SOME INTRA COMPANY TRANSACTIONS THAT WERE BOOKED TO THE BALANCE SHEET, WHE… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
How do we record this transaction in Quickbooks: $2,895,850
How do we record this transaction in Quickbooks: $2,895,850 Is Loan Amount $ 810,875 Is original purchase price for land $ 579,307 Is Current Increase in Value for land (appraised at $1,390,182) Lende… read more
PDtax
PDtax
Owner
Master's Degree
4,292 satisfied customers
I am dissolving an S corp and the only shareholder. The end
I am dissolving an S corp and the only shareholder. The end of year balances are: Loan from shareholder 6000.00 Capital stock 1000.00 Paid in Capital 2000.00 Retained earnings (3000.00) Net Loss 6000.… read more
Megan C
Megan C
Certified Public Accountant (CPA)
Master's Degree
2,222 satisfied customers
We just bought a new company car. We took a loan for it and
We just bought a new company car. We took a loan for it and I want to bring it on the books. I think I should create a new account (Other current liability) in the chart of accounts. Should I enter an… read more
Lane
Lane
JD, MBA, CFP, CRPS
Doctoral Degree
13,374 satisfied customers
Is the following correct: Startup currently is losing money. Revenue
Is the following correct: Startup currently is losing money. Revenue of $1m, costs of $2.5m. NOL that year will be $1.5m whether the company borrows the $1.5 short cash fall or sells stock for that am… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
in financial accounting the words debit and credit mean nothing
in financial accounting the words debit and credit mean nothing more than left and right respectively. Most people think of debits and credits in terms of their credit cards or checking account, but i… read more
Rakhi Vasavada
Rakhi Vasavada
Financial and Legal Consultant
Bachelor's Degree
2,614 satisfied customers
Is it possible to have an account on both the Balance Sheet
Is it possible to have an account on both the Balance Sheet and the Profit and Loss Statement? I would like to see my loan balance on the Balance Sheet and my payments every month on the Profit & Loss… read more
BK-CPA
BK-CPA
Bachelor's Degree
919 satisfied customers
Use the following data for Questions 1 - 5 On November
Use the following data for Questions 1 - 5: On November 30, 2009, Dredge Food purchased two trucks for a total of $70,000, issuing a one-year, 8% note payable, all due at maturity. The interest on thi… read more
Falak Naz
Falak Naz
Master's Degree
324 satisfied customers
1. Explain the rules of debits and credits for permanent and
1. Explain the rules of debits and credits for permanent and temporary accounts. 2. What are the components of an income statement, balance sheet and statement of owner's equity? What is the differenc… read more
Mohammad Ali
Mohammad Ali
Accounts & Audit Officer
Master's Degree
382 satisfied customers
Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

I really was impressed with the prompt response. Your expert was not only a tax expert, but a people expert!!! Her genuine and caring attitude came across in her response...

T.G.WMatteson, IL

I WON!!! I just wanted you to know that your original answer gave me the courage and confidence to go into yesterday's audit ready to fight.

BonnieChesnee, SC

Great service. Answered my complex tax question in detail and provided a lot of additional useful information for my specific situation.

JohnMinneapolis, MN

Excellent information, very quick reply. The experts really take the time to address your questions, it is well worth the fee, for the peace of mind they can provide you with.

OrvilleHesperia, California

Wonderful service, prompt, efficient, and accurate. Couldn't have asked for more. I cannot thank you enough for your help.

Mary C.Freshfield, Liverpool, UK

This expert is wonderful. They truly know what they are talking about, and they actually care about you. They really helped put my nerves at ease. Thank you so much!!!!

AlexLos Angeles, CA

Thank you for all your help. It is nice to know that this service is here for people like myself, who need answers fast and are not sure who to consult.

GPHesperia, CA

< Previous | Next >

Meet the Experts:

Rakhi Vasavada

Rakhi Vasavada

Financial and Legal Consultant

2,614 satisfied customers

Graduated in law with Emphasis on Finance and have have been working in financial sector for over 12 Years

Megan C

Megan C

Certified Public Accountant (CPA)

2,222 satisfied customers

Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level

Manal Elkhoshkhany

Manal Elkhoshkhany

Tutor

1,933 satisfied customers

More than 5000 online tutoring sessions.

JKCPA

JKCPA

CPA

844 satisfied customers

Bachelors degree and CPA with Accounting experience.

Eric

Eric

Financial Manager

559 satisfied customers

Loan servicing, counseling and real estate expert. Foreclosure Expert and Financial Planner.

R. Klein, EA

R. Klein, EA

Accountant

480 satisfied customers

TurboTax Expert. QuickBooks Certified Pro Advisor

Dimitry K., Esq.

Dimitry K., Esq.

Attorney

332 satisfied customers

NASD Licensed Rep, 1997-2001, Business Attorney

< Previous | Next >

Disclaimer: Information in questions, answers, and other posts on this site ("Posts") comes from individual users, not JustAnswer; JustAnswer is not responsible for Posts. Posts are for general information, are not intended to substitute for informed professional advice (medical, legal, veterinary, financial, etc.), or to establish a professional-client relationship. The site and services are provided "as is" with no warranty or representations by JustAnswer regarding the qualifications of Experts. To see what credentials have been verified by a third-party service, please click on the "Verified" symbol in some Experts' profiles. JustAnswer is not intended or designed for EMERGENCY questions which should be directed immediately by telephone or in-person to qualified professionals.

Show MoreShow Less

Ask Your Question

x