Ask Experts Questions for FREE Help !
Ask
    vkcadenhead's Avatar
    vkcadenhead Posts: 6, Reputation: 1
    New Member
    		  
    #1

    Sep 29, 2007, 03:18 PM
    What are creditor's claims on the assets of a company called?
    Net loss, expense or liability?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Sep 29, 2007, 07:10 PM
    Neither.

    It is a decrease to retained earnings.
    Lorsung23647's Avatar
    Lorsung23647 Posts: 24, Reputation: 2
    New Member
    		  
    #3

    Sep 30, 2007, 07:25 AM
    That would be a liability. A liability is money that you owe to another company.

    Edit: Didn't realize CaptainForest was the accounting expert, I'm just going with what I read, maybe I read it differently.
    vkcadenhead's Avatar
    vkcadenhead Posts: 6, Reputation: 1
    New Member
    		  
    #4

    Sep 30, 2007, 11:38 AM
    Thank you!
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #5

    Oct 1, 2007, 10:19 PM
    Either the question was changed or I read another question and then posted the answer here.

    But I could have sworn the question was what does a net loss decrease…an asset or liability.

    Which is why I answered the way I did.

    But as the question reads now, the answer is clearly a liability.
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #6

    Oct 1, 2007, 10:35 PM
    Upon further reflection and analysis…I think I might have just severally misread the question.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Company Introduction Letter (B2B) for a HR services outsourcing company [ 10 Answers ]

How can I make a good company Introduction letter (B2B), for a HR outsourcing company? Please help me out with any free samples.

Is patents ( Intangible assets) added in total assets on balance sheet [ 2 Answers ]

Is the patents (Intangible assest)amount added to the current assets amount on a balance sheet. Help Thanks

Does parent company separate with subsidiaries company? [ 1 Answers ]

The rule in Salomon v Salomon was laid down at time when economic circumstances were vastly different and the principle of laissez faire ruled supreme. In the Modern day and age, parent companies should not be allowed to shelter behind wholly owned and controlled subsidiaries.Why?

Can the small claims court assist me in placing a judgement on losing party [ 1 Answers ]

Tenant broker their lease three months prior to expiration and demand letters have been sent out by my attorney. I will be pursuing small claims shortly, if I am awarded a judgement by small claims court, how will I be able to enforce this? Will the court assist me with garnishment of wages? Will...

How to take a company to small claims court [ 11 Answers ]

I didn't have much luck in 2004 with cars. We bought a car from my brother in Feb 2004 It needed work on it so we took it to Canadian Tire, At the time they put in a new battery and altinator and fixed the exhaust. They fixed the exhaust from the muffler up to the front of the engine. We were...

View more questions Search