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Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Are credit sales recorded by accounts receivable?
Yes, credit sales are recorded by accounts receivable. When a business makes a sale on credit, it increases its accounts receivable balance, reflecting the amount owed by customers. This entry is typically recorded as a debit to accounts receivable and a credit to sales revenue in the accounting system. Thus, accounts receivable serves as a record of outstanding credit sales that the business expects to collect in the future.
Is fees earned debit or credit?
Fees Earned is an Income and whenever an income increases its credited! So that makes it a credit.
How does a free annual credit report make monitoring credit scores easier?
A free annual credit report makes monitoring credit scores easier because it sends a credit card's score monthly to an address securely and without any problems.
How does a company record revenue for accounting purposes if a gift card is never used?
Assuming you record sales as you go, it will be a liability until you can return goods, service, or cash. I record a sale of a gift certificate (for an unknown person) as a credit on account named "gift certificate"; when someone makes a purchase with a gift certificate, it is noted on the sales order along with whatever other payment method is used, so the account card is debited by the gift certificate amount (or portion thereof). If a gift card is never used, it remains a credit until the accountant determines its end of life and deals with it at a year-end.
Does a cosigner have to have a glowing credit history to cosign on a lease agreement for apartment - if their income is good?
They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.
Report on public credit presented a plan deliberately intended to?
Reporting to the public credit about unpaid debt intents to get it paid faster. The company makes it easier to pay with monthly payments.
What type of loan is a credit card?
A credit card is considered a type of revolving credit loan. Unlike traditional installment loans, which have fixed repayment terms and amounts, credit cards allow borrowers to access a predetermined credit limit and make purchases as needed. Borrowers can pay off the balance in full or make minimum payments, with interest accruing on any unpaid balance. This flexibility makes credit cards a convenient but potentially costly form of borrowing if not managed carefully.
Who pays deceased unpaid mortgage?
If there is a will, the executor makes all mortgage payments from the estate of the deceased.
Is salary payable a asset or liability?
The key word is "payable". This makes salary payable a liability until it is fully paid. There are two entries for a Salary Payable, the original Journal Entry to record when the payable occurs and the Adjusting Entry to record when the balance is paid. Entry to record: Salary Expense (debit) $$$ Salary Payable (credit) $$$ Entry to pay: Salary Payable (debit) $$$ Cash (credit) $$$ yes
Which of these makes it easier for a person to get a credit card?
A good credit history
Are credit sales recorded by accounts receivable?
Yes, credit sales are recorded by accounts receivable. When a business makes a sale on credit, it increases its accounts receivable balance, reflecting the amount owed by customers. This entry is typically recorded as a debit to accounts receivable and a credit to sales revenue in the accounting system. Thus, accounts receivable serves as a record of outstanding credit sales that the business expects to collect in the future.
What makes you a better credit risk to the lender out of the five Cs of credit?
character
Is an internship unpaid?
Internships can be paid or unpaid. Larger companies are more likely to pay you, but smaller companies often try to get some free labor in exchange for you getting experience. The truth is, as an intern you are providing value to a company and giving them hours of your life that you will not be getting back, so you deserve to get paid... Otherwise its volunteer work, not an internshipsFor the record, volunteer work is good experience to, and usually actually makes a positive impact in someones life.I would aim for paid internships and go for an unpaid only as an absolute last resort.http://www.thepaidinternship.com/
What is the annual percentage rate on a credit card?
The Answer is "The amount of interest charged on unpaid balances" On Apex
What is the effect of unpaid work?
It makes a person realize what they really want to do regardless of money. But nobody works for free, right?
What is something that makes for a safe credit union?
Most credit unions are insured by the NCUA which is similar to the FDIC insurance carried by most banks. Being NCUA insured makes for a safe credit union.
