Accounting


Accounting Forum

AccountingCoach.com is the world's largest free online accounting course.


Not signed in (Sign In)

Categories

Vanilla 1.1.7 is a product of Lussumo. More Information: Documentation, Community Support.

Welcome Guest!
Want to take part in these discussions? If you have an account, sign in now.
If you don't have an account, apply for one now.

General Accounting Discussions: Foreclosure

Bottom of Page

1 to 1 of 1

  1.  
    • CommentAuthorRatman
    • CommentTimeJul 26th 2010
     
    I held a note for $ 25.000 secured by a first deed of trust on a lot. It showed as Mortgages Receivable on my balance sheet. I foreclosed and cost of foreclosure was 1,500. Value of lot at time of foreclosure was 20,000. Costs to resell would be 2,000. How do I account for this transaction? (numbers are approximate)

1 to 1 of 1

  1.  



 

Why AccountingCoach.com?

the accounting coach

AccountingCoach.com is designed to help people without an accounting background easily understand accounting concepts at no cost.


By investing thousands of hours, we have created clear and concise accounting information for both business people and students of all ages.


We understand how difficult accounting can be. That's why we have ensured that each accounting topic includes a clear explanation, reinforcing drills, Q&A, puzzles, dictionary of terms, etc.


Read 1,440 Visitor Testimonials



What's on AccountingCoach.com?