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What else can I help you with?
Is ending inventory asset or liability?
asset Inventory is a current asset so when the required inventory is utilized the remaining inventory still remain as asset and not become liability. For example inventory of $100 purchase to use for production which is our current asset. when inventory of $90 utilized the remaining $10 is still our current asset while $90 become expense for production of units.
Is a loan an asset or liability to a business?
Liability
Is inventory a real or financial asset?
Inventory is a real asset for business for which company use in earning revenue for business.
Is drawing an asset or a liability?
Drawings are classified as an liability to the business
Is drawing a asset or liability?
Drawings are classified as an liability to the business
Is a bank loan a financial asset?
Bank loan is a liability for business not an asset for business.
Interest paid on loan to buy an asset-asset or liability or expense?
Loan acquired to buy an asset is a liability of business so interest incurred on that loan is also part of that loan and that's why it is also the liability of business.
Is service revenue an asset or liability?
Services revenue is revenue same as product revenue and it is not an asset or liability of the business.
Is Investor Equity an asset or liability?
Investors are those persons who invests money in business so they are the owners of business as well and that amount is the liability of business to pay back to it's owners that's why it is the liability and not the asset.
Is the journal entry of receiving a phone bill an asset or liability?
phone bill is liability for business as it is payable in future and not an asset as the benefit of it has already taken by business.
Is inventory considered an asset?
Yes merchandise inventory is asset for business which company maintain for sale purpose and to earn revenue.
Is a current asset?
No. Debenture is a form of liability for a business.
