Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

If you start a small business, it is unlikely that you will have the necessary capital to get the business running. Instead, you will have to find someone to either lend you money or invest in your ...

Notes payable make up a common category of current liabilities as shown on the balance sheet. These include debt obligations payable within a 12-month period. A note is a formal written commitment to ...

Bonds and notes payable are two types of debt that companies can access to raise capital. Technically speaking, both are written agreements between the company and the lender defining how much will be ...