Inventory costs would go into the Inventory account; which is not on the P&L, it is a balance sheet account. Once a sale is made, the cost of that sale is posted to Cost of Sales and offset against your Inventory balance.
So in your case, the Cost of Sales will be $0.
equity accounts in Gnucash are not "your equity"
they are "transactions" of "equity nature"
basically if you lend something to someone you still "own" it. therefore the money (assets) you have is different but your equity is the same. you can think of equity account as a way to reflect transfers like opening balances (year to year) where you are ...
I think that its worth mentioning that for the most part, stocks and bonds (issued by companies) are liquid in the that they are straight forward to buy and sell (its not technically difficult).
However, as others have mentioned, its not always easy to sell the specific stocks and bonds you have at a time of your choosing, for a price you'll accept.
Let me address why stocks can have wildly differing levels of liquidity. It all comes down to one thing: for you to sell your shares, someone has to be willing to buy them.
For a typical investor? Someone who's got less than $1k tied up in a given stock? Then, yeah, those stocks are absolutely liquid. Simply put, there are so many people buying and ...
From your second Investopedia link:
For a consumer, a lack of liquidity can mean borrowing at a high rate of interest, selling a possession at a probable loss, or failing to pay the bills on time.
Should stocks be considered liquid assets? Not necessarily. They can be bought and sold instantly. But if they are bought at a high price and a need for ...
The second quote sounds like complete nonsense to me. There is no "high cost to their owner" from converting the stocks into cash. The high cost comes from the stock losing value. That an asset can lose value does not affect whether or not it's a liquid asset.
As the first quotation explains, an asset is liquid if it can readily be converted to cash with ...
is owner's equity the same as stockholder's equity?
Considering that the stockholders are the owners, then yes.
The first states that it is owner's capital minus withdraws plus revenues minus expenses, while the other states that it is contributed capital plus retained earnings.
Revenue and expenses are periodic measures, while equity is a point-in-time ...
The first thing That I would require is that the HOA provide the 2018 numbers. Many will also have quarterly numbers to cover some of 2019. The quarterly numbers are harder to judge because some items like snow removal don't happen every month, but they will give you some idea of the status.
Ask for the reserve study, and more details on the reserve funds. ...
I did something like that twice, although I used credit card.
There are two ways this can be done:
The bill is cancelled, or if using credit card, you get a credit card refund. Then you enter the refund transaction as opposite of the original transaction, at the date you returned the goods.
Debit: Assets - Fixed Assets - Good 1