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With permission of BK court....who is actually the one that controlls the house and all assets of the BK company.
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∙ 14y ago
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You rent your house can you still declare yourself bankrupt?
Of course.
Is rent expense an asset or liability?
Its an asset.
Is rent asset or liability?
Yes
Is Sundance Realtors a good company to rent from?
No, they spammed this site to drum up some business (including this question, I removed their own spammy answer). An unsuccessful realtor is not a good company to rent from, as they are very likely to go bankrupt soon.
Is prepaid rent a long term asset?
A Long-Term Asset is one in which the benefits of that asset extend beyond the course of a year. The benefits of prepaid rent are typically more immediate, and therefore Prepaid Rent is classified as a Current Asset.
Is prepaid rent an asset or liability in the books of the payer?
asset
Is prepaid rent is what type of asset?
Prepaid Rent is a Current-Asset account. Since it deals with "prepaid" it will expire on a regular basis and is not a "fixed" asset. Each month (or whatever terms the rent may be paid) the amount is removed from Prepaid-Rent and placed in Rent Expense.
Is a building considered an asset?
If building is owned by business then it is asset of business while if building is acquired on rent then it is not an asset of business.
Is rent income a asset liability or owners equity?
asset liability
Why is not effect of operating lease on balance sheet?
Under operating lease company is only responsible to pay the rent of using that asset and ownership of asset is not transferred that's why it is not shown in balance sheet.
Is prepaid rent an asset or liability?
Prepaid rent is the asset of compan as it is paid already but not due yet so it is current asset and shown in current assets under balance sheet.
Is prepaid rent goes to income statement?
Prepaid rent is that amount which is paid in advance but benefit of which is not yet taken by business so it is current asset of business and like all current assets it is also shown under asset side of balance sheet and not in income statement.
