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Asset A/c Dr
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Is purchase returns an asset or liability?
purchase return is assets or liability or expense
Is the acquisition of non current assets included in the income statement?
Acquisition amount of purchase of non-current asset is shown in balance sheet while any profit or loss incurred for purchase of assets is shown in income statement.
If a company purchase equipment on account will the assets increase decrease or stay the same?
If the equipment is purchased on credit (on account) then the net assets will stay the same as the assets will increase by the same amount as the liabilities
What will a purchase of an asset for cash do?
A purchase of an asset for cash will increase total assets(casH) and increase total owner's equity (capital).
What is the accounting journal entry to record the purchase price of a business?
The accounting journal entry to record the purchase price of a business is debit. The debit will decrease the assets reflecting the purchase price.
How can you improve the quality of assets?
trying to purchase assets from dealers who have a capability of being your custommers.
Is purchase returns an asset or liability?
purchase return is assets or liability or expense
What is the price of a condo?
When you purchase a condominium, you purchase the unit. As well, you purchase an interest in the real estate assets owned by the community. These assets may include common areas, limited common areas, amenities, roadways, parks and so forth. Generally, all these assets are included in the price of a condominium.
What is the difference between investing in shares and investing in real assets?
Investing in shares is where you purchase a certain share of a company. Investing in real assets mean when you actually purchase a house, or gold or silver.
Where would the purchase on noncurrent assets be reported in the statement of cash flows?
Purchase of fixed asset is shown under cash flows from investing activities as an outflow of cash because purchase of assets is an investing activity and it causes reduction of cash flow.
When a company acquires the assets of another does that include the stock as well?
I all depends upon the purchase contract which spells out the agreement between the two companies. In a strictly asset sale, the acquiring company will purchase some or all of the assets within a corporation, leaving the remaining assets in the original corporation. If there are no assets left, then the corporation is essentially a shell with no assets. In a strictly stock sale, the acquiring company will purchase some or all of the stock of the corporation. If a large company sells a division, the assets are usually sold to the buyer and no stock is transferred. If the acquiring company wants to run the purchased business in a separate entity, they may elect to purchase all of the stock. Typically buyers want to sell the stock of a corporation, and sellers want to purchase the assets for past legal liability reasons.
Is the acquisition of non current assets included in the income statement?
Acquisition amount of purchase of non-current asset is shown in balance sheet while any profit or loss incurred for purchase of assets is shown in income statement.
What is restructuring?
Asset restructuring is the purchase or sale of assets that are worth more than 50% of a listed of a company's total or net amount of assets
If a company purchase equipment on account will the assets increase decrease or stay the same?
If the equipment is purchased on credit (on account) then the net assets will stay the same as the assets will increase by the same amount as the liabilities
What is purchase department?
Purchase department is responsible for company wide purchases of inventory as well as assets to centralized the purchasing process.
Differentiate between financial and physical assets?
Physical assets are plant, machinery, tools, land, building e.t.c where as financial assets include cash, shares, bonds, marketable securites, financial assets are used to purchase Physical asstes.
What is restructured asset?
Asset restructuring is the purchase or sale of assets that are worth more than 50% of a listed of a company's total or net amount of assets
