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Is interest payable a asset or liability?
liability
Is interest payable a current asset?
No it is a current liability
What are Mezzanine level items in balance sheet?
Mezzanine level items would typically be items between Equity and Liability. Some items that might fall in this category are Auction Preferred Shares (in mutual funds) or noncontrolling interest in subsidiaries. As noncontrolling interest does not meet FASB definition for Liabilities and are not part of Equity.
Is interest income an expense asset or liability?
Interest income is part of revenue.
Is interest received in advance considered asset or liability?
Interest received in advance is liability of business till the time it is actually earned by business.
Is interest payable a asset or liability?
liability
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 interest payable a current asset?
No it is a current liability
What are Mezzanine level items in balance sheet?
Mezzanine level items would typically be items between Equity and Liability. Some items that might fall in this category are Auction Preferred Shares (in mutual funds) or noncontrolling interest in subsidiaries. As noncontrolling interest does not meet FASB definition for Liabilities and are not part of Equity.
Is interest income an expense asset or liability?
Interest income is part of revenue.
Is interest received in advance considered asset or liability?
Interest received in advance is liability of business till the time it is actually earned by business.
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
How can you say overdraft is an asset?
An overdraft is an asset for the bank because it is money that they will receive with interest. From the customers point of view, an overdraft is a liability because we have to repay the money with interest. Overdraft accounts offer easy cash but at high interest rates. As you are going to return the money including any fees/interest, it will always be a liability for you as the customer.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
Asset or liability us treasury bills?
US treasury bills can be either an asset or a liability. They can be a safe way to hold money because the funds are backed by the US government. Alternatively, the interest return on these is low.
Is interest expenses an asset or a liability?
In accounting, interest and other expenses are neither; they are a contra-equity account. This means that as expenses increase, the owners have less equity. Expenses should normally be treated as a debit account, so as you record interest expenses, you should be crediting either an asset or a liability at the same time.
