Assets Knowledge Base
assets???? what is the best asset (features of the body and personality) in a guy?
What capital assets should be migrated to our new accounting system? We are changing accounting systems and we have a lot of fixed assets some of which have been fully depreciated in years prior. With our new system I would have to enter the fixed asset information in manually. I would like to know if I need to enter all of the fixed asset entries, or only those that have not been fully depreciated. Any information would be appreciated.
What is your analysis of net tangible assets as a fundamental criteria? I am looking at a stock which has the most impressive earnings growth I have seen in a long time. However, it has negative net tangible assets, and it has been constantly growing worse. I don't really understand this, since total assets have been growing over total liabilities, and simultaneously total current assets have been growing over total current liabilities (assets have always been more). What does this mean to me?
Can anyone explain the difference between working capital and net assets? Just say I am starting a new business, it is the end of my first week and I have to draw up my fixed assets, current assets less liabilities,my working capital would be fixed assets less liabilities what would my net assets be for that week? What exactly is the differnce between working capital and net assets applied to the first week. Am desperate help appreciated. Thanks :-)
How do you do the accounting for fixed assets purchased in a foreign currency? When a company purchases fixed assets in a foreign currency, do they value the fixed asset back into the USD amount at the date the asset was acquired or what? The asset is being carried on the foreign subsidiary's books at the amount in Japanese yen. I'm a little confused about this. Can someone provide details, or provide a source where I can find good information on this topic? Thanks.
What is the tax treatment for liquid corporate assets upon the end/retirement of a business? The business is a CCPC (Canadian-Controlled Private Corporation) and the owner will be ending the business due to retirement. There are some liquid corporate assets that exist within the corporation. Is the only option to cash out all the assets at once and take a huge tax hit, or may the owner keep the corporation running and take out liquid assets each year to cover living expenses (thus not taking as much of a tax hit)? Any links to information would be much appreciated.
Can real human assets be successfully transferred from one person to another? Can assets that are real really be transferred from person to person like commodities? Would the recipient in the exchange get something that is real from the transaction? Does the notion not remind you of the theory of inheritance of acquired characteristics that at one time was advocated by Lamarck? In other words, can someone who has worked hard to learn a discipline or a skill have the product of this effort handed over to someone else who just passively acquires it? Does it make sense?
What would happen to you, when Govt. will take over all assets of a dead person like a tax for redistibution? Unearned assets which are received in inheritance after death of any relation widen the asset disparity. Corruption will also decrease when one knows that why to collect unreasonable assets when it will be taken by Govt. Your reaction on feasibility of such kind of radicalism? Estates should be only for life estates, not in perpetuity. Because of perpetuity one wish to enjoy at the cost of others who are being deprived even to get their basic need satiated.
What happens to a persons assets and investments if he gets deported? He lived in the US as a permentant resident since he was a child. He got convicted with a crime when he was in his adolencent years. Ever since that one conviction he has been a hardworking resident for 13 years and have no problems with the law. Now he has grown up and matured and successful tax paying business man. Should he get deported and separated from his family? Also what happens to the persons assets and investments?
How should I protect my assets from collectors and potential lawsuits? I have a business which has been established in my own name as a sole proprietorship. Now due to problems with the business itself, I am worried that important assets like transportation and housing might be collected from under my nose. What steps can I take to prevent this from happening? I have considered setting up a trust or a private holding company besides just incorporating. Legally, what are the best options?
What kind of assets can I buy that will give me positive income each month? I recently got my vehicles paid off and instead of getting back into bad debt I'd like to put the monthly ($900) into something that's going to generate cashflow. I'm thinking paper assets and then real estate when the market makes a rebound in the next 3-5 years. If I go with paper assets, is a discount broker like eTrade or ScottsTrade better than your typical broker who charges an arm and maybe your first born child for the price of managing and commissions? Where should I start?
What happens to the assets when you close an LLC? You ran an LLC, as founder and owner, profitably for years. Then your business interest changes. You decide to close the business (so that you can focus on your other businesses). What happens to the assets of the closing business? Do you get all assets (building, bank fund) transferred to your personal account? In such case do you pay any personal tax?
How do I locate my deceased fathers assets to open probate? My father passed away and being that he was not married and I am his son, I need to handle his accounts, and probably start probate. How do I locate his bank accounts and the balances he has in them? How do I locate any other assets he had? I do not know anything about his finances and have no idea where to even start. Thanks!
What assets could not be tapped in an automobile accident where damage is over bodily injury? I was in an automobile accident, seemed limited with little damage. Yet, the other party have hired a lawyer and my bodily injury liability is 15k/30k per incident. If the other party wants to come after my assets, are there any protected such as 401k, current auto, etc. What is the best way to protect myself? I'll probably get a lawyer soon but thought I'd ask here to get a sense of what I'm up against. Thanks for any advice from someone who might have been through similar.
What is the best way to file bankruptcy if you do not have assets? I have around $35k in debt. The debt is all personal debt and there are no co-signers nor assets in question. As for my personal assets, I don't believe I really have any. My car is eight years old and I live in an apartment. I was considering filing bankruptcy before I begin a new job and get better pay (therefore, they do not see a bigger paycheck and feel I can pay back my loans). So, the question is, what bankruptcy should I do if there are no assets which can be liquidated to pay back my debtors? Funny how many people jump down someone's neck when they talk about bankruptcy. I guess Enron, K-Mart and others are fine, but regular humans are not? Get a life, people...
What is the difference between a retail banks assets and liabilities? Hello i am doing an assignment on Economics and the credit crunch finding it all a bit difficult and would be very greatfull if i could recieve any help on a few questions? firstly the one in the title and also: what does risk adjusted assets mean? and what if a banks capital ratio is too low? anyone who spends any time helping me is an absolute angel. i just dont know where to start
How are the owner contributed assets valued and depreciated? In a single owner LLC when the owner contributes, personal assets, lets say a computer or furniture to his/her start-up, my understanding is that the journal entry is this: Assets debit $VALUE Owner contributions (equity) $VALUE What can the $VALUE be if the equipment was bought a few years ago and there is no receipt or the owner is unsure about the price paid? Who has the burden of proof and what kind of proof is needed? Secondly, can a business then depreciate or expense (through Section 179) that equipment using the $VALUE as the basis?
Is a Living Trust still important when your assets are under a loss? With the current housing bust, the main asset our house (in my name only) is losing value day by day. And I still have not signed up for a Living Trust to help transfer my assets to my wife and children. Now I'm wondering if by signing a Living Trust I'll put undue financial burden on my wife who is currently not working. Also I want to make sure the money in the Life Insurance, Savings Account,401k and the cars go to my wife if I die. Do I still need a Living Trust for these? Can I hold off on a Living Trust until my main asset gains value? What are the risks? Just clarifying ... I totally understand the benefits of a Living Trust. My question is whether I delay getting a Living Trust until my main asset really acquires some value.
What happens to your registered business assets if you discontinue your LLC? I own items that are registered under the business, however I want to breakup the LLC before selling off the assets. The asset in my case is a vehicle registered under the business. If I discontinue the LLC what happens to the vehicle registration? Please submit answers with link to something so I know where you are getting your informatoin. Thanks for the help.
Is it right that organized religions are allowed to own assets? They don’t pay taxes so why should they be allowed to own assets and amass wealth? I mean, sure they have bills to pay and what not, but the possessing of assets can only come after the bills have been paid, so judging by the assets many of them own, it’s obvious that many organized religions have a surplus of money. Do you think this practice should be outlawed?
We bought another company assets, however a supplier of theirs wont sell to us until liabilities are resolved? Our company recently purchased the assets of another company (not their liabilities). A supplier for the company we purchased will not sell to US however, until the liabilities of the company we purchased company are resolved (the company we purchased owes this particular supplier money). This could affect our business as the aforementioned supplier is single source to us and has been qualifed by our customer. Can this supplier legally do this to us in this situation? If not, what is the law that says so?
What happens to your assets once married? I am getting married in July and am curious as to what happens to each of our assets once we are married. I own a condo that is under mine and my father's names. Does my fiance automatically become a part owner once we are married, or do I need to file paperwork? I live in Wisconsin. I don't want a prenup. I want him to be a part owner. I just want to know if I need to file paperwork t add him or not.
What are the requirements to work for Targets Assets Protection? Im interested in this job but i dont know what the requirments are. Im 19, i go to college and my major is administraion of justice. I only have volunteer work experince. Plus i have an active Security guard liscence. Please dont refer the target website because it doesn't tell you the requirements. I am not interested in the front door receipt checker job because its pointless. What are the chances i will get to work as an assets protection undercover agent? Anyone who works for targets assets protection or at target even people who have knowledge about this please help. Thanks
What would net income and return on assets be for the year? Database Systems is considering expansion into a new product line Assets to support expansion will cost $500,000. It is estimated that Database can generate $1,200,000 in annual sales, with a 6 percent profit margin. What would net income and return on assets (investment) be for the year?
Can a gift be considered transfer of assets and disqualify someone for Medicaid? My Grandfather-in-law wants to give us a gift for the down payment to purchase our first home (the gift would be under $10,000). However, he is 82 years old and we are concerned that this may be considered a "transfer of assets". Could this gift keep him from qualifying for Medicaid if he needs to go into a nursing home?
What is the liquidity of the following assets? List them in decreasing order. (Most liquid to least liquid) a) gold bars, b) A portfolio of diversified stocks c) checking account d) a house e) certificate of deposit f) savings account. If you think any assets are equal liquidity, please explain why. Which of the about would be the WORST store of value? Why?
How do I account for depreciation of fixed assets in subsequent years? I am using the straight line method and have accounted for the depreciation in the profit and loss account as well as the balance sheet, however, it still leaves my balance sheet unequal. I think it has something to do with the cash flow forecast. Do I have to list the fixed assets as an expense every year?
What's the best way for me to legally protect my assets from future lawsuits? Recently I inherited a house and some very nice tangible items. I already have a small portfolio of investments and an IRA w/ the company I work for. Unfortunately, I believe there is a high likelihood of me being sued sometime in the future for something that happened many years ago. I don't make much money and I want to keep these assets from being taken from me. What are the best options for me right now?
What is better to pay taxes on, income, inventory or buy assets? If I had $10,000 in income at the end of a year, which would be wiser to do. (1) Purchase more inventory and if so, would I have to pay taxes on that? (2) Pay taxes on the income. (3) Purchase assets? This is based on a company in Florida which buys and resales merchandise that is shipped mostly out of state.
What happens to an elderly person in a nursing home after all of their money and assets are gone? Assume that the person has a chronic condition and requires living assistance, and no relatives are willing or able to take over the responsibility. Further assume that their bank accounts have already been drained to pay for the nursing home, and any assets they had (e.g., a house) have also been sold. The only income they have is the <$1,000 social security stipend every month. What happens in this kind of situation?
What would net income and return on assets (investment) be for the year? Database Systems is considering expansion into a new product line. Assets to support expansion will cost $500,000. It is estimated that Database can generate $1,200,000 in annual sales, with a 6 percent profit margin. What would net income and return on assets (investment) be for the year?
Living wills protect your assets if you are in nursing care? Does a living will protect your assets if you are in a nursing home? Is the nursing home in charge of the patient's living will? Should the will be turned into a irrevocable trust to save assets? Will another person need to be named? Thanks for all constructive answers.
what are cheap assets I can buy that give me a monthly income? Are there any assets i can buy in the $1-$10,000 range that will give me a monthly income (anywhere from $1-anything) and that require very little maintence. I would like to start investing my money in things that will pay me back, I know real Estate is good but I don't have enough money for that. Is there anything else?
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