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The group of accounts that is comprised of only assets are prepaid expenses. Money can be owed on such things as buildings and other equipment.
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The post closing trial balance includes which nominal accounts only real accounts only all accounts listed in the chart of accounts or nominal accounts and real accounts?
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Can a collection agency freeze a bank account in Pennsylvania?
Collection agencies do not and cannot freeze accounts in any state. Only the courts can do this. However, if a lender has a valid judgment against you for a bad debt, any collection agency they hire to recover it can serve your bank with an order of garnishee and attach the assets in the accounts you have there.
Difference between fixed assets and current assets in manufacturing?
fixed assets are those assets used for more than one fiscal year while current assets only used for one fiscal year.
What accounts will only be found in the chart of accounts of a merchandising company?
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Are savings accounts reg cc regulated?
Regulation CC applies to all banks & credit unions, but it only applies to transaction accounts. Nontransaction accounts, such as savings accounts, CDs, share accounts or membership accounts, are not governed by Reg. CC. So Regulation CC does not apply to them; only to checking accounts.
If you have a joint account with a person that is sued can they come after your other accounts?
No. They can only go after the assets of the person that is being sued. If you have a joint account with that person that is part of the other person's assets. Any account that is just in your name is safe as you are not the person being sued.
Does it eliminate estate and probate when heirs are on all accounts as joint owners of deceased?
If the only assets owned by the decedent were joint accounts then those accounts would be owned by the surviving joint owner. Real property, if not held in a joint ownership with right of survivorship, would need to be probated to vest title in the heirs.
Will closing your checking and saving accounts to open checking and savings accounts with another bank affect your credit rating?
No credit reports only report debt not assets. Checking and saving account information does not appear on credit reports so will not affect your credit score.
Is the surviving spouse responsible for medical bills after death in Indiana?
While rules vary by state, the answer to the question is "it depends." Directly, the surviving spouse is NOT responsible for any medical bills or other debts that are entirely in the name of the deceased. Typically this is the case with medical bills. If a person dies and their are probatable assets, then creditors can make claim on those assets. However, given a little planning you can die without ANY probatable assets. The following assets are not subject to probate: Insurance - with a listed beneficiary Retirement plans/annuities - with a listed beneficiary Accounts held TOD - Transfer on Death Accounts held POD - Payable on Death Accounts held JTWROS (Joint Tenants with rights of survivorship) House owned with a survivorship dead Assets held in a trust Note: At no point did I mention a will. A will is a declaration of where you want assets to go, but only those assets subject to probate. So if Dad has $50,000 sitting in a checking account with no POD or Joint Tenant, that assets is subject to probate.
What is the difference between Assets under management and Assets under administration?
Asset Under Management are investment funds and pools managed by a fund manager. Investment decisions for these assets are made by the fund managers; the only decisions from the clients would be whether or not to own the fund. Assets under Administration are client accounts in Wealth Management. Investment decisions, either at the strategic or tactical levels, are made by the account owners.
The post closing trial balance includes which nominal accounts only real accounts only all accounts listed in the chart of accounts or nominal accounts and real accounts?
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Can my sister treat my deceased mom s accounts as her piggy bank and ignore the Will?
No. She would be violating law- stealing the assets of the estate. Someone must submit the Will to the Probate court and petition to be appointed the executor. Once appointed, the executor is the only person who can access and take charge of the assets of the decedent. They will have the authority to distribute the assets according to the provisions in the Will after the decedents debts have been paid.
Can a collection agency freeze a bank account in Pennsylvania?
Collection agencies do not and cannot freeze accounts in any state. Only the courts can do this. However, if a lender has a valid judgment against you for a bad debt, any collection agency they hire to recover it can serve your bank with an order of garnishee and attach the assets in the accounts you have there.
What is prodigy mindlesbehavior Facebook name?
None of the members from Mindless Behavior have peronal facebook accounts, they only have a group account its http://www.facebook.com/mindlessbehavior
Copper wire is matter that is comprised of only one?
element
Difference between fixed assets and current assets in manufacturing?
fixed assets are those assets used for more than one fiscal year while current assets only used for one fiscal year.
What assets or money can be taken from us if a judgment has been made against us to collect unpaid rent for a business we had to close?
It depends on the details. If the business was incorporated and the judgment was against the corporation the creditor can only take business property and assets. If you owned the business as individuals then a judgment creditor can take any of your assets to satisfy the judgment: bank accounts, vehicles, boats, equipment, real property, etc.
