Liabilities and Equity in Accounting

Welcome to the Liabilities and Equity in Accounting course. Throughout this module, you will embark on a journey to understand and apply the intricacies of liability and equity accounts, including an in-depth exploration of current and long-term liabilities.

• Comprehensive overview of liability and equity accounts
• Detailed examination of current and long-term liabilities
• Exploration of the natural account balance and credit

The Payroll, Obligations, and Loans module delves into the complexities of sales tax, payroll, and various loan types. You will gain practical insights into recording sales tax liability, payroll processes, and the intricacies of bank loans and equity.

• Exploration of sales tax complexities and payroll overview
• Practical insights into payroll processes and loan types
• Comprehensive overview of recording sales tax liability and bank loans

Equity and Liabilities module provides a comprehensive understanding of long-term obligations, bank loans, and stockholder equity. You will gain insights into recording long-term obligations, mortgages, amortization, and the calculation of equity.

• Comprehensive overview of long-term obligations and bank loans
• Insights into stockholder equity and the closing process
• Practical exposure to recording long-term obligations and bank loans

The Practice with Liabilities and Equity module offers a hands-on approach to honing your skills in dealing with accounts payable, cash payments, sales tax payable, payroll, and bank loans. You will engage in various practice quizzes and a comprehensive case study to solidify your understanding of the concepts.

• Hands-on practice with accounts payable, cash payments, and sales tax payable
• Engagement in practice quizzes and a comprehensive case study
• Application of the accounting equation to real-world scenarios