Define tangible and intangible assets. Where do they affect financial statements?

Tangible Assets are assets that can be felt and viewed physically, example Property, Furniture etc.,

Intangible assets on the other hand cannot be physically felt. example, goodwill, brand, patents

Tangible assets can be developed, or sold or renovated, which will impact overall financial position.Intangible assets can impact profitability, sale for future etc., 

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 tangible assets

are physical assets such as land, vehicles, equipment, machinery, furniture, inventory, stock, bonds and cash. These assets are the backbone of a company that keep it in production but are not available to customers.intangible  assets

are nonphysical, such as patents, trademarks, franchises