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Of course you do.
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∙ 15y ago
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If you business fails and your equipment is reposed and you still owe the bank money does it come from your personal property?
The business' structure determines whether the owner will be personally responsible for the debt. When the owner incorporates, they are no longer responsible for the debt of their business.
Can a business that is closed still try and collect money owed?
Usually when a business closes it still has some assets, including accounts receivable (i.e.: money which it is owed), and those assets will be acquired by somebody. So the business that is closed isn't collecting money owed, but those debts can still be collected by someone.
If we goto dubai on 1 year work visa and we buy a business and property there but the visa is over then are we still the owner of that property and business?
If you go to Dubai on 1 year work visa and buy a business and property there and then your visa expires, you will still be the owner of that property and business.
Can a small business owner file for bankruptcy and still protect their assets?
Probably not
If the sole owner of a business dies and there is an authorized signer on the account is he the owner of the funds?
No. The funds still belong to the company. The owner's will or estate will determine who owns the company.
Can you still earn money in the stock market after it closes at four o clock?
Yes, but it's better to wait untill it opens.
When franchising a small business, where are the lines drawn between owner and franchisee?
The lines that are drawn between an owner and franchisee is the franchisee provides everything that is needed to really get the business going.The owner of the business is still the owner. When franchising a small business it helps to avoid a lot of work, that an individual would have to do on their own in order to make a better success of the company. The owner is required to make certain payments to the franchise for services that are provided. If a person feels they need extra help with their business a franchise offers support.
How can a business lose money for many years and have still plenty cash?
The business can lose money while still keeping up with loan payments. Eventually, the choice becomes whether to use the cash to reduce those loans or borrowed money.
If a money order has a tear in it is it still good?
A torn money order can still be utilized for business transactions especially if it is a single tear. You can replace your money order by taking the torn pieces to a bank.
Negative Owners equity?
Owner's equity = Owner's capital + Retained earnings A negative owner's equity could mean his drawings exceeded his capital or the business has made losses or both. You should check the income statement to confirm that a loss was incurred. And if everything is indeed correct, then yes, you can have a negative balance under OE If there is sufficient cash flow, you take a draw out of the buisness and you are correctly posting it to owner's draws. It will be a negative number and that is ok. It means you've taken more money out of the business than you've put into it. Now, if you've taken out bank loans, etc. and are withdrawing that money, then it may not be such a good thing, but it would still show up as a negative in owner's draws/equity.
What is a way to go around a lifetime dowry if the person is still alive and living on the property?
Offer the owner a generous sum of money that will allow them to live somewhere else for the rest of their life.Offer the owner a generous sum of money that will allow them to live somewhere else for the rest of their life.Offer the owner a generous sum of money that will allow them to live somewhere else for the rest of their life.Offer the owner a generous sum of money that will allow them to live somewhere else for the rest of their life.
What is Accounting for dependent branches?
This is the money that is flowing through separate parts of the business. They may not be considered the main part, but they still have to monitor the money.
