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What is the difference between physical assets and financial assets?
A physical asset is something tangible that is owned such as equipment, cash, and inventory. Financial assets refer to things such as stocks and bonds, which have value but are not tangible. ...
Asked in Bonds and Treasuries
Do bearer bonds still exist?
From what I heard is that the government has put a stop to the issuing of them but that there may be some in the hands of people that may be willing to sell them. If that is so & if they pay interest they will probably sell them at full value therefore you may as well stuff your mattress with cash. ...
Asked in Business Accounting and Bookkeeping
What is the journal entry for purchasing goods on cash does goods account exist?
Debit goods purchased Credit cash Yes goods account is called "Inventory" account ...
Asked in Life Insurance
Which type of insurance dose not build a cash value for the in sured?
Pure term life insurance. In this kind of policy, there is no cash value of the policy for the insured. The policy holder gets no tangible or monetary benefits as long as he/she is alive. Only the survivors of the insured can reap the benefits of this kind of policy. So, we can say that this type of policy has no cash value for the insured individual. ...
Asked in Performing Arts, Business Law
If a client gives down payment with no formal papers signed can the dealer refuse in giving a refund if deal was canceled?
A sales contract is assumed to exist if money changed hands. The buyer gave cash in good faith and the seller must deliver the item promised or a refund. ...
Asked in Business Accounting and Bookkeeping
Does depreciation expense increase cash?
Depreciation expense has no affect on cash flows whatsoever. It is simply a method of systematically expensing a long-term tangible asset over its useful life. However, if you are trying to calculate your cash flows from operating activities using the indirect method, depreciation expense is one of the figures you would add to your net income in order to arrive at that number. ...
Why a difference does exist between net income and cash flow from Operating activities?
Differences exists due to inclusion of non cash items in cash flow from operating activities as well as some income or loss which is not part of or due to operations of business purely. ...
Asked in The Difference Between
What are the differences between coupons and gift certificates?
A gift certificate is a coupon that has a set monetary that can be used at a particular store instead of cash. A coupon is an offer that can be redeemed at a particular store, but cash will usually have to change hands. ...
How many type of transactions are there?
Two types of transactions: Cash Transactions- Where payment is made immediately by cash or cheque. Credit Transactions- Where the goods or services hands immediately but payment take place at a later time. ...
Asked in Taxes and Tax Preparation, Income Taxes
Do you have to pay income tax on cash inheritances?
No. In the United States you do not pay Federal Income Tax on any inheritance. However, there may be inheritance tax on the estate so don't count on getting your hands on all the cash. The government could get some of it depending on the size of the estate. The government simply takes its money before you get your hands on it and not after you get it. ...
Where in Tampa can I get cash for a used iphone?
You can post an ebay classified add to sell your iPhone fast. You can also sell it directly through ebay with "instantsale". Local pawn shops can also take it off your hands for cash. ...
Asked in Credit and Debit Cards, Banking
Where can you cash an old money order if the bank does not exist anymore?
Nowhere. A money order also has a validity period and if it is more than a few years old, there is no way you can cash it. Most importantly, you are saying that the bank does not exist, so who is going to pay for the money order? Nobody. So there is no way you are going to get the money order paid. ...
Is recording an annual depreciation expense an accrued expense?
Yes. Annual depreciation is the method by which we allocate the cost of a tangible asset over the course of its useful life independent of the cash flows associated with it. As a result, it is considered an accrued expense. ...
Asked in Banking
What is part-cash sale?
Part of the payment is in cash Example: someone may turn up at a store and have a cheque ready in payment, only to find at checkout that someone forgot to add tax; so person collecting hands over some of their own money to complete payment. For the store it is part-cash sale i.e. they received cheque and cash. ...