It would be realized in your bank account the moment it is deposited by somebody. the maximum delay may be a few minutes and not more than that. (For Cash)
If it is a cheque it may take 2-3 working days.
An account payable is a debt the company owes and maintains a credit balance, the impact on the account if a company pays the debt is a decrease in what the company owes or a decrease in the account payable. This means a debit will be added to the account to "decrease" the balance.
Capital account has credit balance as a normal balance of account as it is the amount company requires to return back to it's owner at the time of liquidation.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
All expenses have debit balance which reduces the profit of company and shown under income statement and all revenues are credit account which increases the income of company
An account payable is a debt the company owes and maintains a credit balance, the impact on the account if a company pays the debt is a decrease in what the company owes or a decrease in the account payable. This means a debit will be added to the account to "decrease" the balance.
Yes, if you still owed a balance at the time the account was closed. Just because a company closes an account does not mean that any balances that are owed to them disappear. If your account was closed and there was still a balance outstanding and you did not pay that balance, the company has every right to collect the balance and any interest outstanding.
You can get a print out of your account balance at the company that holds your account. Either you go to their website and log in or you go to their office.
Capital account has credit balance as a normal balance of account as it is the amount company requires to return back to it's owner at the time of liquidation.
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
Accounts receivable has a debt balance as normal accounting balance because it is an asset of company.
All expenses have debit balance which reduces the profit of company and shown under income statement and all revenues are credit account which increases the income of company
The classification and normal balance of the drawing account is the owner's equity with a debit balance. A balance sheet is a summary of a company's liabilities and assets, as well as the shareholders' equity.
Profit & Loss Account is the Statement showing indirect expenses and receivable of a Company where as Balance Sheet is the Statement highlighting Assets and Liabilities of the said Company.
Because it's taken from the company's cash balance - and credited to the company's account. The company's books must balance - therefore, the cash is taken from one account and paid into another.
You should never have a debit balance in a liability account. Liability accounts maintain a "credit" balance. If a debit balance incurs, it means that the company has paid too much to the account.For example, say I owe Company B $500 on an account payable (liability) and I for some reason pay them $600 instead, that does actually give me a debit balance, however that also means they owe me $100 since I overpaid them.If it's a supplier I order from on a regular basis then I can just leave the balance alone and let it balance itself out with the next purchase, making note about "why" there is a debit balance.However, if it's a company I made a one time purchase from, for example I bought a computer and don't plan on buying another one from the company for a while, it's best if I zero out the balance and move the balance from the liability account into an account receivable (an asset account) and contact that company about the error and a possible refund.
Company accounts are a disclosure of the financial information of a limited company, usually provided in the form of a profit & loss account and a balance sheet. Company accounts are usually filed annually.