Income of any kind is Revenue so... no - it is NOT an asset. However - the investment or savings that earned you the interest IS.
When a cow gives birth to a calf in a ranching business, the accounting entry involves recognizing the increase in livestock assets. This can be recorded by debiting the "Livestock" asset account for the fair market value of the calf and crediting a "Livestock Birth" or "Income from Livestock" account to reflect the increase in value. There is no immediate cash impact, but this entry reflects the growth of the ranch's herd.
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
When business is started without cash then may be owner invested some kind of asset in business journal entry is as follows: [Debit] asset in kind [Credit] Owner's Equity
asset
Tangible asset
A variable asset/liability and a commodity.
naggers
cows and cattle
buffalo
chikens
Just give me the answer!
Goats and sheep mostly.
traffic
Livestock branding is a kind of technique for marking livestock to identify the owner. Some of the modern usage of livestock branding are proving ownership of lost or stolen animals and must serve as a proof of ownership.
Income of any kind is Revenue so... no - it is NOT an asset. However - the investment or savings that earned you the interest IS.
asset and liability management