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If a company purchase equipment on account What is the assets here?
The asset account will be Equipment. You will debit this account to increase its value. The credit side of this transaction will be Accounts Payable. This transaction will increase the value of Accounts Payable, as well.
Why do you write off assets?
Assets are write off if asset has completed it's useful life or can be disposed of if it has become obsolete or another reason is that if company wants to purchase asset with new technology as well.
Does sale of asset affect control account?
Yes, the sale of an asset affects the control account. When an asset is sold, it typically results in a decrease in the asset's value recorded in the control account, as well as a corresponding increase in cash or accounts receivable. Additionally, any gain or loss on the sale may also need to be reflected in the financial statements, impacting the overall equity. Thus, the transaction will require appropriate adjustments to ensure accurate financial reporting.
Can a Asset purchase agreement does it hold up in court?
Yes, an asset purchase agreement can hold up in court if it is well-drafted and meets legal requirements. To be enforceable, it should clearly outline the terms of the sale, including the assets being transferred, the purchase price, and any conditions or warranties. Both parties must also demonstrate mutual consent and have the legal capacity to enter into the agreement. Courts typically uphold such contracts unless there are issues like fraud, misrepresentation, or lack of consideration.
How will you calculate cost of fixed assets?
Cost of fixed assets includes the cost of asset as well as all costs which are incurred to bring asset to working condition like carriage and installation cost as well.
If a company purchase equipment on account What is the assets here?
The asset account will be Equipment. You will debit this account to increase its value. The credit side of this transaction will be Accounts Payable. This transaction will increase the value of Accounts Payable, as well.
What is the point of a stock option loan?
Well a stock option loan is an derivative financial instrument that specifies a contract between two parties for a furture transaction on an asset at a reference price. The buyer of the option gains the right, but not the obligation, to engage in that transaction, while the seller incurs the corresponding obligation to fulfill the transaction.
Why do you write off assets?
Assets are write off if asset has completed it's useful life or can be disposed of if it has become obsolete or another reason is that if company wants to purchase asset with new technology as well.
Why isn't purchase of fixed asset treated as expense in the period in which the purchase was made?
Answer:Even though cash has been spent on purchasing the fixed asset, accounting principles will prescribe that an asset needs to be recognized. This is an application of the matching principle, which states that cash expenditures need to be allocated as an expense in the period where they generate revenue. Suppose the fixed asset is a machine, which will be used to produce goods, which will be sold at a profit. The sales will be recorded as the products are sold during the economic lifetime. Hence, the purchase price of the fixed asset needs to be allocated (spread) over the economic lifetime as well. The expense is called depreciation expense.
What are some of the most well known asset management programs?
A well known asset management program is by Microsoft called Microsoft SAM. Another well known asset management program is IBM's Maximo Asset Management.
Does sale of asset affect control account?
Yes, the sale of an asset affects the control account. When an asset is sold, it typically results in a decrease in the asset's value recorded in the control account, as well as a corresponding increase in cash or accounts receivable. Additionally, any gain or loss on the sale may also need to be reflected in the financial statements, impacting the overall equity. Thus, the transaction will require appropriate adjustments to ensure accurate financial reporting.
Where can someone purchase a gps asset tracking system?
You can purchase GPS asset tracking systems from many specialised reputable companies that manufacture or supply, as a third party, systems that can track assets such as large construction equipment to personel. Tracking systems are available from a range of online companies as well as businesses based in some of the major towns and cities around the United Kingdom as well as worldwide.
What is a good sentence with the word asset in it?
The well-educated children were an asset to their family and community.
Can a Asset purchase agreement does it hold up in court?
Yes, an asset purchase agreement can hold up in court if it is well-drafted and meets legal requirements. To be enforceable, it should clearly outline the terms of the sale, including the assets being transferred, the purchase price, and any conditions or warranties. Both parties must also demonstrate mutual consent and have the legal capacity to enter into the agreement. Courts typically uphold such contracts unless there are issues like fraud, misrepresentation, or lack of consideration.
What is definition of e-commerce?
E-commerce refers to the purchase and sale of goods and services over the internet, as well as the movement of funds and data to complete the transaction. Electronic commerce, or internet commerce, is another name for it.
What is the best measure of risk for an asset held in a well-diversified portfolio?
The measure of risk for an asset in a diversified portfolio is greatly dependent on the type of asset it is. And to narrow it down further, the name of the asset is vital to a complete answer. The best answer on the information provided is what percentage of the portfolio does the asset comprise of the portfolio.
Can you purchase concert tickets from razorgator?
Yes. You can purchase concert tickets from razorgator. You can also buy sports event tickets, as well as theater tickets. The site is very easy to use, and often includes upcoming events on the headline.
