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What liability does a minority interest owner 10 percent have when required to personally guarantee loans of the s corporation?
Wiki User
∙ 12y ago
Seemingly, 100% for the debt of the loan he signed for personally. That's the point, he guarantees 100% of the loan personally for something else, in this case the corp. If the corp doesn't pay, he does.
Wiki User
∙ 12y ago
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What is the advantage of a corporation?
A corporation has limited liability protection, and are typically not personally responsible for business debts. A corporation can live forever, even if an owner dies or sells interest, the corporation can still exist.
Will I Have To Personally Guarantee The SBA 504 Loan?
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Is interest payable a asset or liability?
liability
What element of financial statements interest payable belong?
Interest payable is liability to be cleared in future that's why shown in liability side of balance sheet.
Is interest due during a tax dispute?
It depends upon the result of the dispute. if the liability to pay tax is confirmed on an appeal, interest accurues even during the period when the liability is in dispute. Because the liability to pay is there before the dispute and after the dispute. If the liability is deleted on an appeal, there is no liability to pay tax before the appeal and after the appeal. When there is no liability there is no interest there upon.
Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
Is interest received in advance considered asset or liability?
Interest received in advance is liability of business till the time it is actually earned by business.
Is accrued interest payable a current liability?
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The owner interest in the assets of a corporation are alternately known as?
The owners interest in the assets of a corporation are alternately known as stockholders' equity.
Is interest income an expense asset or liability?
Interest income is part of revenue.
Interest payable found on the balance sheet?
Interest payable is liability for business that's why shown under liability side of balance sheet of business.
Is interest a current or non current liability?
That part of interest which is due withing next 12 month or due in current financial year then that would be current liability and the remaining part will be non-current liability.
