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What else can I help you with?
Is a car an asset if you only own one?
Yes.
How do you remove a completely depreciated fixed asset from your fixed asset accounts?
Debit Accumulated Depreciation and Credit the Fixed Asset account for the capitalized value; however, if you still own the asset, you should not remove it.
A monetary asset is defined as an assets that is convertible to what?
it should be in one operating cycle
What should be the journal entry if a sole proprietor purchases a car from his own showroom?
Dr Fixed asset a/cCr Cash a/c
Is equipment an asset?
Provided you own it yes.
Do you have to list your mobile home as an asset on rental application if the mobile home is personal property?
Yes. It is an asset. An asset includes personnel property you own.
Is current asset the same as a fixed asset?
Current asset is that asset which is utilizable within one fiscal year of business while fixed asset is that asset which is utilizable for more than one fiscal year of business.
Where can one locate an expert in field asset services?
There are a lot of places in order for one to locate an expert in field asset services. However, it is suggested that one should check out the information on the website Money Saving Expert beforehand.
Is a valuation account an asset or liability?
The conceptual framework considers asset valuation accounts to be part of the related asset account. They are not considered to be assets or liabilities in their own right.
Are dividends owner's equity or asset or liability or revenues?
If your divident is the result of your own investment, it is an asset. Divident payable is a liability.
Is a checking account considered an asset or liability?
A checking account is considered an asset because it represents money that you own and can access.
Is a savings account considered an asset?
Yes, a savings account is considered an asset because it represents money that you own and can access.
