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Do the kids have to pay their mother's outstanding Visa balance when she dies if she has no assets and no husband?
Wiki User
∙ 19y ago
No, in this type of situation only the account holder is responsible for the debt. If there is no estate the debt will be voided. Please be advised this does not necessarily mean an unethical collector/creditor would attempt to convince family members they are obligated for repayment.
Wiki User
∙ 19y ago
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What is the difference between outstanding assets and outstanding liabilities?
Outstanding assets are assets that are owed to an individual or business. Outstanding liabilities are debts that ill be incurred in the future.
What is outstanding assest?
outstanding assets
Will you be responsible for your mothers outstanding dept if she died without any assets?
No. Unless you agreed in writing to be responsible for your mother's debts, her estate will be responsible. If there is no estate the creditors are out of luck.
How do you calculate Book value per share?
Look in the Company's Balance Sheet. Total Assets -Total Liabilities ______________________ = Book Value per share Outstanding Shares
Is premises debit or cedit?
Premises are business assets so same like all other assets premises balance is debit balance as normal balance.
What can be amortized on the balance sheet?
Intangible assets are amortized on balance sheet same as tangible assets are depreciated.
Intangible assets on the balance sheet?
Below Fixed Assets
Are current assets debit or credit items?
Current assets are debit as all assets has default balance debit so current assets as well and these are shown under current assets section of balance sheet.
Where to put deferred tax assets in the balance sheet?
Defferred tax asset is shown in assets side of balance sheet under head of other assets.
Is intangible assets a debit or credit?
Intangible assets are also assets like any other assets so if all other assets have debit as a default balance then intangible assets also have debit as default balance. Like Goodwill etc.
Does assets account have a debit balance or a credit balance?
debit
What are assets and liabilities reported on?
Assets and liabilities are reported on a balance sheet
