0
Cash is an asset like money in the bank (this is something that you OWN). Bank loans and overdrafts (things that you OWE) are liabilities. The easiest way they teach it in accounting is: whatever you own (like money in the bank/cash/company vehicles) is an asset. But whatever you owe (like bank loan - that will need repayment/VAT owing to HMRC) is a liability.
What else can I help you with?
Is Cash an asset or liability?
Asset.
ARE Cash discounts AN asset or liability?
Cash discounts are a liability.
Cash at the bank as an asset and as a liability?
ASSET
Is the cash dividend paid asset or liability?
is an asset
Is cash an asset liability or equity?
asset equity
Is cash an asset liability or owners equity?
asset
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Is petty cash a asset or liability?
Petty cash is current asset and shown under cash in hand section of balance sheet in asset side.
What an example of a decrease in an asset and a decrease in a liability?
Paying A/P: Decrease in Cash (Asset), Decrease in A/P (Liability)
What will increase one asset and decrease another asset with no effect on liability or owner s equity?
Purchase an asset on cash will increase the purchased asset while reduce the cash amount and no impact on liability or equity section.
Is received cash from issuing stock an asset?
Yes, cash received is an asset while stock issued is liability. Cash is asset because this cash now be use for the business benefit.
Is loaned cash an asset?
Yes, it is a current asset as part of the cash at bank. It also creates a liability for the amount of the loan.
