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The loan is fully paid off at the end of its set turn
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∙ 7y ago
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Can a creditor keep reporting a charged off account?
That is perfectly legal. The term "charge off" does not mean that the debt is not still valid and fully collectible.
Can you amortized organization cost?
Depending on the country you are in, you should checkout the relevant Company Accounting Standards, Accounting Standards and Tax Act as every country varies. However, as a general guide, Setup or Organisation costs are usually capitalised, that is, they are a Balance Sheet item. They then remain on the Balance Sheet but are not amortised or depreciated. Depending on the relevant part of your Tax Act, there may be a point in time when they may be written back.
Difference between fully paid shares and shares issued at discount?
Fully paid shares means that the amount of which shares are fully paid by the investors while shares issued at discount means, share are issued at discounted price from actual face value of asset.
Fully depreciated asset?
Is an asset that has equalled its original cost
When an asset is fully depreciated should the total accumulated depreciation for that asset be zeroed out?
After an asset is fully depreciated, the assets and accumulated depreciation accounts are zerod together in the beginning of the next accounting period. When an asset is fully depreciated but still operates in the company, accountants usually leave the asset and its accumulated depreciation accounts in the records even after it's fully depreciated and even through next periods, just to show that this asset still exists and operates.
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