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yes it is and thanks for asking because i was just talking about that last week
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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.
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
Are bank checks assets or liabilities to banks?
Neither.The liability for a bank is the actual checking or savings account (demand account), as this is money that is owed to the depositor. A bank check is simply a way to demand payment from the bank's liability account (or the depositor's asset account). The check by itself is not an additional liability to the bank above and beyond the actual account balance.
Cash at the bank as an asset and as a liability?
ASSET
Is a positive balance in your cheque account a asset or liability to you and the bank?
For Bank: Liability For You: 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.
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
How do you calculate the working capital of a bank?
net working capital of bank is the difference of current asset and current liability of a bank.
Is checking your account an asset or a liabilities?
Checking your account can be considered an asset as it represents the funds you have available for use. However, it can also be seen as a liability if your account has a negative balance or if you owe money to the bank or other creditors.
Is a checking account an asset?
From the account holders perspective yes a checking account is an asset. The amount of money you have in your checking account is your asset. From the banks perspective it is a liability because whenever you want your money, the bank has to give it to you.
Are bank checks assets or liabilities to banks?
Neither.The liability for a bank is the actual checking or savings account (demand account), as this is money that is owed to the depositor. A bank check is simply a way to demand payment from the bank's liability account (or the depositor's asset account). The check by itself is not an additional liability to the bank above and beyond the actual account balance.
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.
Cash at the bank as an asset and as a liability?
ASSET
Is an escrow account an asset or a liability account?
The total balance in escrow is shown on a company's balance sheet at the end of every period, either as a liability or in a section between liabilities and equity. The separate bank account that the escrow funds are held in is shown as a current asset outside of the company's operating account. In this way, the escrow funds are both an asset and a liability in the company and are a "wash." However, the accounts cannot be netted against each other because they must be visible as both asset and liability according to GAAP.Read more: http://www.ehow.com/info_11384335_accounting-treatment-escrow-account.html#ixzz2l5oMh8nY
Where does bank go in a trading profit and loss account or balance sheet?
Well salaries payable is liability of an organization . This is a current liabilities so they are posted in capital and liability side of a balance sheet.
Is demand deposits an asset on the accounting books of a bank or a liability?
Demand deposits are considered liabilities on the accounting books of a bank. This is because the bank is obligated to repay the deposited funds to the account holders on demand. It is essentially a debt owed by the bank to the account holders.
