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Intangible assets are assets like other assets and have debit balance so these are also increased by debit only and reduce by credit.
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∙ 9y ago
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What is the journal entry for amortization?
Debit amortization expensesCredit intangible assets
Is a prepaid asset considered an intangible asset?
No. A prepaid asset is an asset that May be Tangible or Intangible, but is not yet 'in service'. When it is acquired and in service, is when it may be determined if it is Tangible or Intangible.
What Types of fixed asset?
1)Tangible fixed asset 2)Intangible fixed asset 1)Tangible fixed asset 2)Intangible fixed asset
Is branding a intangible asset?
Yes, branding is an intangible asset. Usually, common referred to under Goodwill.
Give a example of Increase an asset and increase a liability.?
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
Is accounts receivables a fixed asset or intangible asset?
The answer is neither one. Accounts receivable are a current asset; neither an intangible asset (e.g. goodwill) nor a fixed asset (e.g. plant and equipment).
Why goodwill is an intangible asset?
Goodwill is an intangible asset because it does not have any tangible physicle existance and nobody can touch or see it.
Is plant asset intangible?
No it is tangible.
Is a masthead an intangible asset?
Yes, it is
Are patents intangible assets?
patents are intangible assets as these have not physical existence. patent is a right to use something which is not physical that's why it is an intangible asset.
Is a song download an intangible asset?
I think it is.
Is life insurance a tangible asset?
no, intangible
