Debt is classified as a liability on a balance sheet. Here’s the reasoning behind this: Balance Sheet Basics A balance sheet reflects a company’s financial position at a specific moment in time. It follows the accounting equation: Assets = Liabilities + Equity Here’s what each term means: Assets: Things the company owns that have value […]
Loan in Philippines
Is Loan Payable Current Or Noncurrent In Balance Sheet?
Whether a loan payable is classified as current or noncurrent on the balance sheet depends on the repayment terms: Current Liability: If the loan is due for repayment within one year or the company’s operating cycle (whichever is longer), it is considered a current liability. This portion of the loan is frequently listed as “Current […]
How to Borrow Money in GCash? (2024)
Do you need a quick financial boost? GCash, a popular mobile wallet in the Philippines, offers convenient loan options through its “Borrow” feature. This guide will walk you through the process of borrowing money in GCash, explaining eligibility requirements and step-by-step instructions. What is GCash? GCash is a leading mobile wallet and financial services platform […]
