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Liabilities
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∙ 12y ago
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What is the journal entry if a company pays the debts of another company?
Debit investment in other companyCredit cash / bank
Can a company still trade if insolvent?
A company can not still trade while insolvent. If a company does trade during this time the directors of the company can become responsible for the debts.
If a company fails to record estimated bad debts expense?
expenses are understated
What does the term accounts receivable?
Accounts receivable is money that a client owes to a company. The company bills the client detailing the cost and nature of the goods acquired or services rendered on the clients behalf. It is not, however, a term used to describe debts, which are called notes receivable.
What does the term accounts receivables mean?
Accounts receivable is money that a client owes to a company. The company bills the client detailing the cost and nature of the goods acquired or services rendered on the clients behalf. It is not, however, a term used to describe debts, which are called notes receivable.
Is there a company called clark financial services limited?
Yes,there is a company called clark financial service,that is where i got my loan of 540,000rand and today i am able to consolidate all my debts and live a good life
What is a debt purchasing company?
company which buy bad debts from other companies.;
Is an incorporated company liable for its business debts?
yes
Funds or property that have value in meeting debts are called?
Funds or property that have value in meeting debts are called collateral. A+ answer- assets
What are the business debts called?
liabilities
What are business debts called?
Liabilities
What company could help a business pay it's debts on time?
Wells Fargo is a company that can help a business or person pay their debts on time. Wells Fargo has the Debt Pay Down Solution plan which works with you or your business to help debts get paid, not a minute late.
What is a financial failure caused by a company's inability to repay its debts?
bankruptcy
Are you responsible for debts made as a minor?
if you have not had contact with the company for 6 years no
What is the journal entry if a company pays the debts of another company?
Debit investment in other companyCredit cash / bank
What is joint stock company?
A joint stock company refers to a company whereby the stock is owned jointly by the shareholders. The stockholders are usually liable for the company debts.
Can a company still trade if insolvent?
A company can not still trade while insolvent. If a company does trade during this time the directors of the company can become responsible for the debts.
