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Answered 2005-11-19 20:27:06

Http:// click on Florida in the "state resources" section of the menu.

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Are trade debtors tangible assets?

Trade debtors are persons or organizations who allows others to buy items or goods with credit and to receive payment for such goods at a later date, and tangible assets include both fixed assets and current assets. The items or goods are the assets, not the trade debtors.

What is a trade debtors?

Trade Debtors are current assets they are usually meant for the goods

What are some of the excemptions from chapter 7 bankruptcy?

There are certain exemptions from Chapter 7 bankruptcy. The aim of these exemptions is to protect certain assets. Exemptions vary by state, but most allow one to keep some property so one can make a fresh start.

What is meant by debtors?

Debtors are those customers who purchases goods from company on credit so debtors are current assets of business.

What does debtors mean in the balance sheet?


Why sundry debtors is coming under current assets?

Sundry debtors come in current assets because normally goods are sold on credit for short term agreement for one month or for three months as amount is receivable from debtors within one fiscal year that’s why debtors arrive in current assets.

What are the components of current assets?

The components of current assets are creditors, cash, debtors and stock.

What are the current assets?

debtors,stock,bills receivable etc

What are some current assets?

Following is list of assets:CashBankInventoryDebtorsNotes receivable

Can you file Chapter 7 and keep your house and car?

Whether you can keep your house and car depend on how much equity is in your house and car and the available bankruptcy exemptions within your state. If the bankruptcy exemptions allow you to protect the equity in these assets then you should be able to keep them in bankruptcy.

What is a supercedeas bond?

Also called supersedeas bond, this is the security required by courts to protect judgment debtors from having their assets executed upon, while they appeal judgments against them.

If you have assets in your home can you be force to sell it if you file bankruptcy?

If the value of the assets greatly exceed the allowable exemptions, then yes they can be seized.

As depreciation is to fixed assets what is the same analogous to debtors?

Bad debt

Can an executor be arrested for not paying the debtors?

The executor is responsible for the settling of the debts of the estate. They are to use the assets of the estate to do so. If there are not enough assets, the debtors don't get paid. Unless they have committed fraud, there is nothing to arrest them for.

What is concept of circularization in auditing?

circularization of debtorsAccountingauditors' approach to debtors to identify assetsthe sending of letters by a company's auditors to debtors in order to verify the existence and extent of the company's assets

What assets can be taken with a Florida deficiency judgments for foreclosed property?

Whatever they can sell to reclaim their losses. You may need to proceed with bankruptcy to protect other assets. Consult an attorney for specifics.

Can a credit card company garnish wages in the state of Nevada?

Yes. Under Nevada law 75% of your weekly pay or (154.50) whichever is highest is exempt from atttachment by creditors. Depending on circumstances, this amount can be amended. But not to the extent of causing undue hardship upon the debtor and/or dependants. Bank accounts, certain pensions, real estate, and other assets can be attached by creditors to pay debt. Each state has specific exemptions for debtors to protect assets. In some cases you can choose either federal or state or a combination of both. These exemptions are the same whether used in BK or to satisfy a judgment awarded in a lawsuit.

Can creditors go after a paid-off car in probate if the house is being foreclosed on?

Debtors can go after the assets of the estate. These assets will have to be liquidated to settle the debts.

Is current asset the same as liquid asset?

Liquid assets are those assets which can immediately be converted in cash in emergancy basis so in liquid assets noramlly inventory is also not included as well as debtors.

What happens in probate?

The assets of the estate are inventoried and valued.All known or possible debtors are contacted and the total debts are determined.The debtors are paid off using the assets of the estate.Taxes are paid off using the assets of the estate.The executor is paid for their work accoding to the will or laws.The remains of the estate are distributed according to the will or the intestacy laws of the jurisdiction in question.

What actions can the creditor take if you can't pay your debt?

They can initiate a lawsuit. If the creditor wins the suit, they will then petition for a writ of judgment and proceed to execute it. That can be in the form of wage garnishment, bank account levy, liquidation of nonexempt assets. Every state has a set of exemptions that the debtor can use to protect specific property. These exemptions are the same ones that are used in bankruptcy.

Can account receiveable be found on a balance sheet?

Accounts receivable are those money which is receivable in future from debtors and it is current assets of business and shown in balance sheet at assets side.

When money runs out who pays the deceased bills?

Nobody, if there are no assets left in the estate. The debtors don't get paid in this case.

What do you keep in a bankruptcy?

It is a myth that you will lose everything if you file for bankruptcy. While the bank is allowed-under Chapter 7-to liquidate assets, there are number of exemptions including tools of the trad exemptions, primary vehicle, and others.

Distinguish fixed from current assets?

current assets are those assets which can be easily converted into cash while fixed asstes can not be easily converted into cash example fixed= land, building, machinery current= debtors , bill receviables