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If the company is not incorporated then yes, the assets of the company technically belong directly to the owner and can be garnished to pay child support.
To avoid this, the company can become incorporated and the owner should be given a specific salary set by the corporation.
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Is a shareholder a part owner of the assets of the company?
Yes.
What is owner's equity?
Owner's equity is considered the source of the company's assets. Owner's equity is also referred to as the book value of the company, which include the reported assets minus the reported liabilities.
Can the owner of any big company buy personal assets with his own money?
Been a owner of big company you can buy personal assets with your own money. A lot of companies do this and make profit.
Is owner investment is asset?
An owner's initial investment in a company is recorded as Shareholder's Equity. The cash and other property contributed by the owner are recorded as Assets to the company.
A company has a total assets of 10250 dollars and its owner equity is 5000 dollars how much are the liabilities of the company?
A company has a total assets of 10250 dollars and its owner equity is 5000 dollars how much are the liabilities of the company?assets = liabilities + equity$10,250 = liabilities + $5,000 --> liabilities = $10,250 - $5,000 = $5,250In Personal Finance
Can the attorney general take money from the spouse of someone who owes back child support in Texas?
Spouses are not responsible for their spouses' children. However, the State can and will place liens on assets to collect child support, so the spouse could end up losing money if s/he is a joint owner of those assets.See links below
When funds in bank account are untouchable in a child support lien Michigan?
(Possibly) those funds that belong to a joint owner of the account and not to the child support obligor.
What is the shareholders equity if it has current assets of 2230 net fixed assets of 9900 current liabilities of 1380 and long-term debt of 4040?
Basic Accounting Equation: Assets = Liabilities + Owner's Equity Assets = Current Assets + Fixed Assets Liabilities = Current Liabilities + Long-term liabilities So Assets = Liabilities + Owner's Equity then current assets + fixed assets = current liabilities + long-term liabilities + owner's equity 2230 + 9900 = 1380 + 4040 + owner's equity 2230+9900 - 1380 - 4040 = owner's equity 6710 = owner's equity
Does assets decrease when an owner withdraws cash?
Yes owner withdraws in form of cash or assets so ultimately it reduces the assets of business as well.
Can a trunk line gas company easement be sold by owner?
Utility companies change names, merge, split, sell their assets to a new company, etc. The easements they own are assets that can be transferred to whatever new entity services that area.
What corporate characteristic causes the rate of return and rate of equity percentage to be different?
The total liabilities because Assets = Liabilities + Owner's Equity. Corporations can borrow money to finance their company, therefore however much you borrow affects assets and owner's equity.
Can a company buy back its assets after bankruptcy?
Sold is sold...so if the new owner wants to sell, sure..ut there is no right to.
