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No, cash in bank is not considered a fixed asset. It is classified as a current asset because it is liquid and can be readily used for transactions or obligations in the short term. Fixed assets, on the other hand, are long-term investments like property, plant, and equipment that are not easily converted to cash.
What else can I help you with?
Journal entry for the interest on a fixed asset purchase?
Debit fixed assetdebit interest expenseCredit cash /bank
Cash at the bank as an asset and as a liability?
ASSET
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
Double entry for Purchase fixed asset?
dr fixed asset cr bank
Is cash considered an asset?
Yes. Cash in hand and cash in bank are classed as current assets.
Journal entry for the interest on a fixed asset purchase?
Debit fixed assetdebit interest expenseCredit cash /bank
What is the journal entry of asset acquisition in ledger accounts?
debit fixed assetcredit cash / bank
Cash at the bank as an asset and as a liability?
ASSET
Is cash at the bank an asset or liability?
Cash at the bank is an asset for you but a liability for the bank if it is held in a checking or regular savings account.
What is the journal entry for receiving a donated asset?
write up the entries required in revaluation account?
Double entry for Purchase fixed asset?
dr fixed asset cr bank
Is cash in bank asset?
yes
Is fixed deposit an asset?
Yes. An Asset is something that has a value and can be sold/converted to cash.
Is loaned cash an asset?
Yes, it is a current asset as part of the cash at bank. It also creates a liability for the amount of the loan.
Is cash considered an asset?
Yes. Cash in hand and cash in bank are classed as current assets.
What is the journal entry for cash deposit for Fixed deposit in bank?
debit bank accountcredit cash / bank
Is depreciation considered part of the cash budget?
Depreciation is not part of cash budget as this is not cash expense rather it is just the allocation of fixed asset cost to specific fiscal year in which that fixed asset is used so there is no cash outflow due to depreciation and that’s why it is not included.
