What happens to retained earnings when a business closes is that it is treated as if it is an asset that needs to be liquidated and distributed to...Become a member and unlock all Study Answers Start today. Try
What happens to credit card debt, specifically, after a cardholder dies depends on a number of factors, including how the account was set up and the status of the estate. Who is responsible for debt when someone dies? Credit card debt doesn’t disappear when someone dies, as issuers still...
What does it mean to write off accounts receivable? What are bills receivable and bills payable in accounting? What happens to retained earnings when a business closes? Are accounts receivable a revenue? How do you calculate net accounts receivable?
While the government usually has just six years to charge you with criminal tax evasion, it has forever to collect the taxes you owe and assess penalties. In addition to the failure-to-file and late-payment penalties, these things could happen to you when the IRS catches up: Interest: On...
What happens to your card? Yourretail credit card’sissuer may offer different options to you once the store closes. As mentioned, you may be able to continue using your card if the retailer has sister stores that will remain open. Alternatively, you may be issued aproduct changeto anoth...
Minsky, an attorney specializing in student loan debt. And when a college closes for business, it leaves students with more than just wasted time and unopened textbooks. They may also have thousands of dollars in student loans, borrowed to attend an institution that no longer e...
What happens when a bank fails If a bank fails, such as by losing the ability to pay back debts or return deposits to customers, a bank regulator closes that institution. The FDIC steps in to protect bank customers’ funds, generally in two ways: paying (or providing access to) funds to...
Click here to view interactive content What we'll cover What happens when a bank closes your account? If a bank closes your account, it isn't required to notify you, so you might not receive a notification informing you of the closure. However, the bank is required to return any money ...
Mutual funds are generally bought and sold after the market closes, which means that investors can only trade based on the NAV calculated at the close. ETFs can be bought and sold throughout the day at market prices, potentially allowing investors to take advantage of intraday price movem...
What do you need to qualify for a bridge loan? To qualify for a bridge loan, your lender will look at standard credentials like your debt-to-income (DTI) ratio, how much home equity you have, your credit score and possibly your household income. It helps if you’ve been a good mortga...