Once they find the accounts if under your name they will take out money with the support of the federal government.
Credit has no impact on one's assets.
The creditors will write it off if there are no assets. They cannot come after anyone exept the person with the debt or their estate. If neither exists, they write it off.
in fix assets
Credit causes the decrease in assets only because assets has debit balance as a normal balance while all other items has credit balance and credit causes the increase in them.
Intangible assets are assets like other assets and have debit balance so these are also increased by debit only and reduce by credit.
Debit distribution accountsCredit fixed assets
Credit cards are not assets, there's nothing to garnish from them.
Decrease in assets
a decrease in assets
Patents are intangible assets, assets maintain a debit balance.
Debit combined assetsCredit combined liabilities
A sales refund will reduce income (debit to Sales Returns) and assets (credit to cash). A debit to Depreciation Expense and a credit to Accumulated Depreciation will reduce assets and net income.
Debit assetsCredit accounts payable
debit depreciationcredit assets
[Debit] Assets account [Credit] Share capital account
You're already doing it.
Current assets are debit as all assets has default balance debit so current assets as well and these are shown under current assets section of balance sheet.
In a financial transaction: * debits = What was paid for or gained. It can be an expense, an asset (something of lasting value) or it can be a reduction in a debt. * credits = What is the source of value. It can be income, an increase in debt or obligations (owner investment) or it can be a reduction in assets (cash or other assets)
Intangible assets are also assets like any other assets so if all other assets have debit as a default balance then intangible assets also have debit as default balance. Like Goodwill etc.
Negative impact to your credit score, and your car could get repossessed.
Yes, it is a current asset.
assets and liabilities increase
debit assetsCredit liabilitiesCredit cash