0
Is it a requirement to list your house as an asset when filing for chapter 7 if there is no equity in it?
Hardtobelieve
When filing for bankruptcy, you must list any assets you own regardless of their value.
Wiki User
∙ 9y ago
Add your answer:
Earn +20 pts
Is cash an asset liability or equity?
asset equity
Are retained earnings an asset equity or liability?
asset equity
Can you pay off your car soon after filing bankruptcy?
Your question is not trivial, and there may be some variance due to asset equity thresholds and such parameters set by the state of jurisdiction for the bankruptcy filing. An excellent primer about filing chapter 7 or 13 bankruptcy is "The New Bankruptcy, will it work for You?" 3rd edition by Stephen Elias, published in 2009 by Nolo; 346.078 E42N Dewey decimal.
Are cars an asset when filing for Chapter 7?
Yes. There may of course be a liability of a loan secured by it you also need to report.
Both return on asset and return on equity measure profitability which one is more useful for comparing two companies why?
Return on asset= profit margin × asset turnover Return on equity= return on asset × equity multiplier so, return on equity is more comprehensive
Is drawings an asset equity or liability account?
equity
Is cash an asset liability or owners equity?
asset
How do you decrease an asset and decrease owners equity?
Credit Decreases an Asset and Debit decreases Owners Equity.
Is service rendered considered an asset or owner's equity?
an asset
How does a stock repurchase affect the accounting equation 1 Decrease asset increase equity 2 Increase asset decrease liability 3 Decrease equity increase liability 4 Decrease asset decrease equity?
Decrease asset; since repurchase is with cash, whis is an asset Decrease equity; if repurchased stock is not to be reissued, it is declared void and the number of outstanding assets is decreased. Hence, equity is decreased.
Is the market value of equity an asset?
yes it is. it is under the shareholders' equity
Is rent income a asset liability or owners equity?
asset liability
