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When you close an account you cancel the account, you delete it, if you close an account it won't be there later!!
Standard closing entries: Close Revenue accounts to Income Summary by debiting Revenue and crediting Income Summary. Close Expense accounts to Income Summary by debiting Income Summary and crediting Expense accounts. Close Income Summary to Capital account by debiting Income Summary and crediting Capital account. Close Withdrawals account to Capital account by debiting Capital account and crediting Withdrawals account.
Yes, if your account is involved in illegal activities like terrorist financing or money laundering etc. No, if your account isn't involved in any illegal activities.
NO! THE OPPOSITE HAPPENS, YOUR CREDIT SCORE WILL LOWER. KEEP YOU ACCOUNTS OPEN EVEN IF YOU HAVE A ZERO BALANCE. NEVER, CLOSE AN ACCOUNT IF YOU CAN AVIOD THIS.
Real or permanent accounts are balance sheet accounts which have a continuous nature and accumulate data from period to period; such accounts are not closed at the end of the reporting period.
First, the user that wishes to delete their account must sign in with the valid credentials and then go to accounts settings and choose the option to close the account.
They can not close your accounts. They will however monitor all activity coming in and out of the accounts of the signer who is flagged for investigation. They will whipe those accounts clean every so with out a warning or ticket. The bigger concern should be if they levy the bank account, how many outstanding checks are you going to have that now will not clear? Many people end up with hundreds, if not thousands, of dollars in bounced check fees....which might make the bank close the account.
Checking accounts are not normally reflected on a credit report.
Banks cannot and do not close checking accounts without valid reasons. They may close the account if: * You have not maintained the minimum required balance * You have not operated your account for very long time * You issue too many cheques that bounce * You are suspected to carry out illegal activities like money laundering.
Which of the following accounts will be closed to the Capital account at the end of the fiscal year?
Log in, click on account or go to youtube.com/account then click on manage account then you should see delete account click on that answer the question "are you sure you want to delete your account" and click "yes".
There is no way to delete an account, except by mailing a staff member and asking them to close your account but by no means make another account. Both accounts will then be closed. Just talk to a staff member.