Search results
Results from the WOW.Com Content Network
A fixed liability is a debt, bond, mortgage or loan that is payable over a term exceeding one year. Such debts are better known as non-current liabilities [1] or long-term liabilities. [2] Debts or liabilities due within one year are known as current liabilities. [3]
A liability is a present obligation of an entity to transfer an economic benefit (CF E37). Common examples of liability accounts include accounts payable, deferred revenue, bank loans, bonds payable and lease obligations. Equity accounts are used to recognize ownership equity. The terms equity [for profit enterprise] or net assets [not-for ...
Shareholder equity: Accounted for on the balance sheet by subtracting the company’s total liabilities from its total assets. Accounts payable appear on the balance sheet as current liabilities ...
These liabilities are typically settled using current assets or by incurring new current liabilities. Key examples of current liabilities include accounts payable, which are generally due within 30 to 60 days, though in some cases payments may be delayed. Current liabilities also include the portion of long-term loans or other debt obligations ...
An income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income). Income tax generally is computed as the product of a tax rate times the taxable income.
If you meet eligibility requirements, you may be able to avoid paying income tax on accrued interest if you redeem I bonds to pay for eligible higher education expenses. However, the requirements ...
Nonrecourse debt is usually carried on a debtor company's balance sheet as a liability, and the collateral is carried as an asset. For U.S. Federal income tax purposes, the interaction among the concepts of (1) the "amount realized" upon a disposition, (2) the amount of nonrecourse debt, and (3) the amount of adjusted basis in the property is ...
The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities. [4] Another way to look at the balance sheet equation is that total assets equals liabilities plus owner's equity.