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Is salary current asset to company?
A salary would be something you would pay an employee, therefore it would be something the company owes, making it a liability when it is recorded but not paid, an expense when it is paid.
Is the cash dividend paid asset or liability?
is an asset
Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Paid-in capital a asset or liability?
Neither, it is equity
Is salary current asset to company?
A salary would be something you would pay an employee, therefore it would be something the company owes, making it a liability when it is recorded but not paid, an expense when it is paid.
Is the cash dividend paid asset or liability?
is an asset
Are Advance paid a current asset or current liability?
advance paid is current asset and advance received is current liability.
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Paid-in capital a asset or liability?
Neither, it is equity
Is tax paid on purchases an asset or liability?
Tax paid on purchases are considered a liability. Anything paid to another is considered a liability for businesses because they are spending money.
Interest paid on loan to buy an asset-asset or liability or expense?
Loan acquired to buy an asset is a liability of business so interest incurred on that loan is also part of that loan and that's why it is also the liability of business.
Is salary an asset or liability?
Salary is generally considered an asset for the employee receiving it, as it represents income that can be used for expenses, savings, and investments. However, from the employer's perspective, salaries are classified as liabilities on the balance sheet, as they represent future obligations to pay employees. Thus, the classification of salary as an asset or liability depends on the context of the discussion.
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Is additional paid in capital an asset?
Additional paid in capital is an asset to a business. If this type of capital has to be paid back to a financial institution, then it will also become an accounts payable or liability.
Is an unpaid invoice for stock purchased an asset?
Until it's paid it's a liability.
Is rent paid expense an asset or liability?
Rent paid is typically considered an expense rather than an asset or liability. When rent is paid, it reduces the cash account (an asset) and is recorded as an expense on the income statement, reflecting the cost of using the rented space during that period. However, if rent is paid in advance, it may be classified as a prepaid expense, which is considered a current asset until the rental period occurs.
