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Assets and liabilities are prime parts in accounting. Student needs to use both these terms frequently in their assignments for various purposes. However, confusions may create mistakes and you may not be able to score well in this situation. To overcome the problems of students we from myhomeworkhelp.com provide the best services of Assets and Liabilities Homework Solutions.
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What do you mean by assets?
Assets are economic resources an economic value. The resources of a company which is owned and controlled to acquire a value are assets. In corporation sector a business or company has assets to add economic value in the existing. Assets can be turned into cash.
What do you mean by liabilities?
Liability means legal debts or legal obligations that take place during business operations. However, these are settled in some time through transference of financial benefits like goods, money or services. Loans, mortgages, accounts payable, accrued expenses and deferred revenues are the most practical examples.
Now, the explanations of the terms come in the very first level of study. If you have any problem in explanation, then Assets and Liabilities Homework Solutions from our team will surely increase your knowledge.
What are the different classes of assets?
The two different classes are –
- Tangible assets
- Intangible assets
There are two different types of tangible assets –
- Current assets – Inventory comes in this class.
- Fixed Assets – Equipment and buildings come in this section.
Our experts of Assets and Liabilities Homework Solutions explains that fixed assets are always profitable in future for an individual or a company. But, how a company will manage its exact assets for future need? A lot is there and if you think that you have confusion, then you must
What is the relationship between assets and liabilities?
It is important to know an equation that explains the relationship as –
- Asset = Liabilities + Owner’s equity
Owner’s equity means the value of company through shareholders. If a company has liabilities minimum, then it is in profit as it does not have much loan or debt. Through this above equation calculations take place to understand the exact position of a company. A positive side must have maximum number of shareholder’s equity to get confident about the optimistic position in the market.
To know more you can select our perfect assistance of Assets and Liabilities Assignment Solutions. We are always ready to enhance your knowledge in this topic.
What a student must know before completing Assets and Liabilities Assignment Solutions?
Some important terms that students must know are –
- Short-term investments
- Prepaid expenses
- Inventory
- Receivables
- Marketable Securities
- Long-term investments
- Tangible asset
- Intangible
- Balance sheet
- Book keeping
All these points and various others are essential for students. Without knowing these points one cannot be the master in this topic without having proper knowledge of this.
What is the prime difficulty of students in assets and liabilities?
Each student needs to concentrate on various terms and mostly the theme of asset and liability. Though, it sounds good that only basic knowledge of credit and debit can clear about asset and liability, but in practical point of view it is very much applicable in evaluating values to get financial position.
Students can easily prepare balance sheet of a company, but in case they are confused, then it will be difficult for them.
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