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What else can I help you with?
Should every income have a corresponding asset?
For the first entry, yes, pretty much. If a company receives money from Income that is recorded as income and cash, cash being the asset account. If the company records the income as a recievable, meaning the customer hasn't paid yet, then the account would be an Accounts Receivable, also an asset account. Though income is recorded on the Income Statement and not the Balance Sheet, the revenue from said income becomes an asset, adjusting entries later on the books will take care of anything else, such as merchandise, inventory, cost of goods sold (if a merchandising company) or other expenses related to said income.
What is identifiabilty and separability in context of intangible asset?
Intangible assets are said to be identifiable when it is separable, ie capable of being separated or divided from the entity and sold, transferred, licensed, rented or exchanged, either individually or together with a related contract, asset or liability, or it arises from contractual or other legal rights, regardless of whether those rights are transferable or separable from the entity or from other rights and obligations
Is Operating leases considered to be a spontaneous source of financing?
I don't know if spontaneous is the right word; but they are considered by some to be a type of "off-balance sheet" financing. The reason for this is because very often, companies lease an item with the intent of eventually owning that item. An operating lease does not create a liability on the balance sheet the way financing an asset would. That being said, an asset that is being "financed" through a lease should more correctly be classified as a capital lease, which does create a balance sheet liability.
How are fully depreciated assets reported in the balance sheet?
Fully Depreciated Assets are reported on the Balance Sheet as always, with one extra account. Accumulated Depreciation. For Example if a company has a Truck that cost $25,000 and it has been fully depreciated, the entries for the Balance Sheet are Equipment- Truck $25,000 Less Accumulated Depreciation (*****) Fixed assets remain on the books until said asset is sold, salvaged, or destroyed.
What can be said about a firm whose owners equity is a negative amount?
A firm with negative owners' equity indicates that its liabilities exceed its assets, suggesting financial distress or insolvency. This situation can arise from sustained losses, excessive debt, or significant asset depreciation. Negative owners' equity may hinder the firm's ability to secure financing and could lead to bankruptcy if not addressed. It reflects a critical need for the firm to evaluate its financial health and implement corrective measures.
What program is better to jail break an iPod spirit or black rain?
i used spirit and i like it. it kinda lagged my itouch though. ive never tried black rain but everyone ive heard has used spirit. i asked my friend and they said they actually researched it and found spirit was better
What is a sales agreement?
A sale lease agreement states an owner of an asset sells said asset to another party. The asset is been leased by the previous owner so he or she can continue to utilize the asset, though they no longer own it.
What is a Sale lease agreement?
A sale lease agreement states an owner of an asset sells said asset to another party. The asset is been leased by the previous owner so he or she can continue to utilize the asset, though they no longer own it.
How does saying sorry help your spirituality?
Your pride. if you hurt someone and than said sorry, that person will probable feel better (you'll help him to feel better). If you make someone feel better and happy, in general if you help someone, it's good for your spirit Having recognised the fact that you need to say that you are sorry, is in itself lifting to the spirit. Having said so; your friendly or loving relationship with the offended person is restored, and the hurt is forgotten.
What did John the Baptist say the spirit felt like?
He said that the Holy Spirit was like Fire.
Who is Hillari and what did she think about Stargirl?
they said no and started fighting
What is the meaning of They said you were a great asset I told them they were off by two letters?
The person that said this comment is calling you names without actually saying it.
Paul said walk in the -----and we will not fufill the lust of the flesh?
Spirit
Touching spirit bear In chapter 6 Peter's lawyer said that any solution of the circle must do what two things?
The lawyer said that any solution within the circle must hold Peter accountable and help him change his behavior for the better.
When was Couldn't Have Said It Better created?
Couldn't Have Said It Better was created in 2001.
Who said Liberty is the bread of mans spirit?
Salvador de Madariaga
Who said play the game in the spirit of the game?
J. L Nehru
