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What are the consequences of leaving the US to get away with credit card debt but keeping other assets in US banks?
Wiki User
∙ 17y ago
Once they find the accounts if under your name they will take out money with the support of the federal government.
Wiki User
∙ 17y ago
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How does Credit affects assets?
Credit has no impact on one's assets.
What do you do when someone dies leaving outstanding credit card debt but has no will or trust and no 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.
Where do you record credit purchases of fixed assets?
in fix assets
Is a credit a decrease in assets retained earnings revenue liabilities?
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 asset increases by credit?
Intangible assets are assets like other assets and have debit balance so these are also increased by debit only and reduce by credit.
A credit may signify what?
Decrease in assets
A credit may signify...?
Decrease in assets
A credit signifies a decrease in?
a decrease in assets
Can credit cards be garnished?
Credit cards are not assets, there's nothing to garnish from them.
What will a decrease a revenue and a decrease in assets?
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.
What does the term debit and credit mean in book keeping?
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)
What are the primary assets of credit unions?
Consumer Loans
