Question

Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni’s owners. For each of the following transactions, identify the real and/or financial assets that trade hands. Are any financial assets created or destroyed in the transaction?

Answer 1

A budgetary resources is a fluid resources that gets its incentive from an authoritative right or possession guarantee. Money, stock, security, common store and banks are the case of monetary resources.

Physical resources incorporates apparatus, plant, furniture unexpectedly budgetary resources are debentures, inclination share and so forth physical resource are unmistakable while monetary are elusive.