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Is service rendered considered an asset or owner's equity?
an asset
what is a example of an asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Is withdrawal considered a miscellaneous expense?
no
What is an example of a current asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Is a withdrawal a business expense?
It rather depends what the withdrawal was for. If it was for personal use - then no, but if it was for petty cash for example - then yes. The above gets there, but a withdrawal is NOT an expense of any type. It is simply getting cash from an account...you/business has no more or less after the withdrawal than before. Just where that asset is changes. The expense may occur when you spend the withdrawal on a tax deductible expense.
Is land considered an asset in financial accounting?
Yes, land is considered an asset in financial accounting.
Is service rendered considered an asset or owner's equity?
an asset
what is a example of an asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Is withdrawal considered a miscellaneous expense?
no
What is an example of a current asset?
Current Assets are assets that are considered to be liquidated easily. Cash is considered a current asset because of that reason, it is cash. Anything that can be turned into cash quickly is considered a current asset. Accounts receivable is also a current asset, while a Note Receivable is considered (non) or more appropriately, a "long-term" asset.
Is a house considered an asset?
Yes, a house is considered an asset because it has value and can be used to generate wealth or income.
Is a house with a mortgage considered an asset?
Yes, a house with a mortgage is considered an asset because it has value and can be sold for a profit.
What is asset impairment?
Asset impairment is a financial term. When the projected worth of the asset is less than its current worth, the asset is considered to be impaired.
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.
Is a website considered an asset?
Yes, a website is considered an asset because it has value and can contribute to the overall worth of a business or organization.
Is an apartment considered an asset?
Yes, an apartment is considered an asset because it has value and can be used to generate income or be sold for a profit.
