February 2007
Intermediate to advanced
288 pages
6h 32m
English
book
Crash Course in Accounting and Financial Statement Analysis, Second Edition
by Matan Feldman, Arkady Libman
Content preview from Crash Course in Accounting and Financial Statement Analysis, Second Edition
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Impact of Interest Expense on the Balance Sheet
During the year, you paid the bank the $5 interest expense on your loan. Accordingly, your cash balance was reduced, along with the retained earnings account. Note that there was no impact on the debt balance because you have not paid down any principal.
| Debits | Credits | |
|---|---|---|
| Interest expense (SE): | $5 | |
| Cash (A): | $5 |
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I'm always learning. So when I got on to O'Reilly, I was like a kid in a candy store. There are playlists. There are answers. There's on-demand training. It's worth its weight in gold, in terms of what it allows me to do.