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A debit card allows to draw out only as much cash as you currently have.
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∙ 14y ago
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Accounts payable vs bills payable?
account payable is a current liability for item purchased on credit
How do you make entry if owner draws money from company?
If the owner intends to pay back the money: Dr. Accounts Receivable and Cr. Cash. If the owner does not intend to pay it back but the company owes the owner money: Dr. Loan/P to Owner and Cr. Cash If the owner does not intend to pay it back and the company does not owe the owner money: Dr. Retained Earnings and Cr. Cash This would either be considered a dividend or a distribution, depending on the structure of the company (corporation vs. partnership vs. LLC vs. sole proprietorship) Alternately, it could be treated as Net Pay. In that case, you would "gross-up" the amount charged to Salary Expense as a Debit and Credit Payroll Taxes Payable and Credit Cash for the amount taken.
If I don't use my credit card for a long time and the credit card complany decides to close my account will that look bad on my credit report?
It will remove the available amount of credit from your total sum of available credit. Chances are if it was only a very small amount(like a $1,000.00 or less) it won't make a difference. However if it was a larger amount that will reduce your available credit ratio/vs debt, that could drop your score. Check out EQUIFAX.com for an educated info on most or all credit score etc questions.
Why net income differs from net cash flows from operating activities?
Because of accrual accounting. Wikipedia accrual vs. cash basis of accounting.You make sales on credit, but haven't collected cash yet.NI goes up, but A/R goes up instead of cash.You have earnings but no cash.
Applied overhead vs actual overhead?
APPLIED Overhead is computed using the predetermined overhead rate and is the amount of costs applied (or estimated) to be allocated (needed) for specific jobs. ACTUAL Overhead is found after the manufacturing process is complete which gives the actual amount of used/consumed resources (or total costs) that it needed to complete the job. The two amounts can then be compared afterward which is known as Under- or Overapplied Manufacturing Overhead. When Manufacturing Overhead has a DEBIT balance, overhead is said to be UNDERAPPLIED, meaning that the overhead applied to work in process or to the certain job is LESS than the overhead incurred. On the contrary, when manufacturing overhead has a CREDIT balance, overhead is OVERAPPLIED, meaning that the overhead assigned to work in process or to the certain job is GREATER than the overhead incurred.
Are processing rates lower for debit cards vs credit cards?
credit cards
Debit card vs credit card?
In short debit card is spend now and pay now. credit card is spend now pay after.
Credit vs debit?
Debit is the left side of accounting statement and Credit is the right side of accounting statement. By debit we mean something comes inside the organization and by credit we mean, something goes outside the organization. That means debit means inflow and credit means outflow. For Example, we write Accounts Recieveable at, cash in hand, cash at bank, and assets at the left side of accounting statement as debit and write Accounts Payable, Bonds Payable, Bills Payable and other liabilities at the right side of accounting statement as credit. Hope answer the question
What is a math sample using debit cards vs credit cards?
A Debit card is just like writing a check. The money comes out of your checking account right away. A Credit card sends you a bill and then you pay it. No money leaves you until you pay the bill.
What are the advantages of applying for college credit online?
If you mean applying for online college courses (for which you'd be getting credit), vs going to a physical classroom, then the advantages are saving on the cost of commute, flexibility of schedule, and often a lower cost for tuition.
Are credit cards or travelers checks better for vacation?
Both credit cards and travelers checks have differing advantages. Credit cards can be more convenient compared to travelers checks because you will have to sign each check. This article examines the advantages and disadvantages of each option: http://www.gettingmoneywise.com/2011/02/credit-cards-vs.-travellers-checks.html.
The advantages of a credit unions over banking?
The interest rates are usually cheaper and it's a little easier to obtain credit if you are a member. Credit Unions are usually ran by local companies vs. most banks being corperate owned.
What is the average ratio of cash vs credit card payments for a sit down restaurant?
I run a putt putt golf course, which would probably be more equivalent of a fast food restaurant in terms of cash to credit. But we usually get 70% of revenue through cash and 30% through credit/debit cards.
What does credit evaluation mean?
Your credit vs debt ratio is analyzed. This is the evaluation.
Can you use the Victoria's secret credit card at bath and body works?
Yes, however, you cannot use a VS gift card at BBW. Also, you do not get VS angle points from purchases made at BBW.
What is synonyms for the word credit?
credit could equal "recognition" ex. "Give recognition where recognition is due" vs. "credit where credit is due"
What are the advantages and disadvantages of using a chip reader?
According to the feedback from my credit institution, they found out that either method (swipe vs chip reader) are equally prone to theft. So the great idea didn't work against the crooks.
