Best Results From Yahoo Answers Youtube
From Yahoo Answers
Answers:Create a family trust with your mother as trustee. In your will, leave everything to the family trust. Your mother will then have control over all assets. The trust will outline what she can and cannot do, when and how much to disburse to your son etc. Without a will, your husband will get most of your assets. It varies from state to state. Also, what are you calling "your" assets? If you are in California for instance, or other community property states, that can be an issue. If you are talking about your home, if title is in your name alone, you can convey it. If you hold title with your husband in joint tenancy, it will go to him and you can not leave it to your son. In other words, there is no way to answer this question without complete information. Oh, and DEFINITELY get the advice of an attorney or Certified Family Planner. For all you know, I may be a shoemaker!
Answers:Very interesting question!! Well there are many things that can count as your assets besides cash. For example: Your mobile phone Your laptop/desktop computer (however if you are using your parents' computer, its not your asset) Your car Your personal bedroom items (like your bed, your clothes etc) I know it will be hard to value items like your bed and clothes. Just make a fair estimate! Basically anything that belongs to you.
Answers:A. A negative cash balance must be recorded as a current liability. Here is confirming information from accountingcoach.com A negative cash balance appears on the balance sheet when the cash account in the general ledger has a credit balance. The credit or negative balance in the general ledger cash account is usually caused by a company or organization writing checks for more than the amount in the general ledger cash account. When preparing the balance sheet, the negative balance in the cash account should appear as a current liability (Checks Written in Excess of Cash Balance) instead of reporting the negative cash as an current asset. A negative cash balance in the general ledger (on the balance sheet) does not mean that the company s bank account is overdrawn. For example, if a company writes checks for $100,000 and mails them at the end of the day to suppliers in another state, those checks might not clear the bank account for four days. The general ledger account might show a negative $40,000 but the bank s checking account might be reporting a positive balance of $60,000. If the company deposits more than $40,000 tomorrow morning, the bank balance will not show an overdraft because the bank balance will be large enough to pay the $100,000 of checks when they clear the company s checking account in a few days.
Answers:Return on Tangible Assets is a variation of Return on Assets. Return on Assets = Net Income/Total Assets. Return on Tangible Assets replaces Assets with Tangible Assets in the denominator. So you need to be able to identify or calculate Net Income regardless of what's in the denominator. Tangible Assets are Total Assets minus Intangible Assets. Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." (see business dictionary link below.) The most common examples include Goodwill, Brands, and intellectual capital such as trademarks, patents, copyrights, etc. Accounts Receivable (A/R) and Prepaid Expenses are both assets and both are tangible. A/R represent cash to be received in the future in a certain amount. Prepaid Expenses represent cash already paid. In either case, there is nothing intangible about cash. As for deferred income taxes, I would encourage you to consider first whether they're actually assets or liabilities in the first place, before worrying about whether they're tangible.