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Bank accounts differ widely. Some banks require a minimum daily balance before they give interest (meaning the balance cannot fall below that minimum on any day of the month).
Generally speaking, for accounts that do accrue interest, it accrues (adds up) each day, but it is only posted and given to your account ONCE a month.
What else can I help you with?
Does Dividends have a credit or debit balance?
I'm trying to find out the answer, but I'm thinking credit balance. I'm trying to find out if its right or not. The answer is wrong, it actually has a Dr. balance ............................................................................................ Depends on What You Mean by DIVIDENDS! - If you are talking about dividends from investments (interest on a checking account, CD, etc.), then that is income. Income or Revenue accounts always receive credits and, therefore, maintain a credit balance. - If you're taking about stockholder dividends from a corporation, that is more complicated. Dividends given in a small business environment (sole, partners, S-corp) are tracked in an Equity account and the account is debited when a distribution is made. This "Distribution" or "Owner's Draw" account is the only Equity account that receive debits and, therefore, maintains a debit balance.
What is auto debit?
An arrangement that authorizes your monthly loan payments to be deducted automatically from your bank account (usually a checking account) on a given date each month.
Need for profit and loss appropriation account?
Good question. This account is prepared when you need to record the dividends given and some taxes. Because these things aren't directly recorded in P&L account. Like dividends on Equity and preference shares is recorded in P&L Appropriation Account.
What is the term for the portion of a corporation's profits that are given to stockholders?
Dividends
What are the benefits of the Citibank Savings Plus Account?
The Citibank Savings Plus Account requires only $100 to open. There are no monthly fees or withdrawal fees. Interest rates for balances between $1000 and $25,000 is 0.1%. Updates regarding your account can be given by text or email.
Are awards given for monthly top contributors?
No, there are no awards given to monthly top contributors on WikiAnswers. But prizes are given during WikiAnswers contests like the WikiAnswers AnswerThon.
What would the total dividend be on 300 shares?
It depends on the dividends being given to the shareholders - the price can vary.
How much do you need to deposit now into an account which pays you 3 percent compounded monthly to have 10000 in 25 years?
Deposit 4776.06 The frequency of compounding does not matter since the annual interest rate is given.
Can a bank of America credit card access my Bank of America checking account to pay a late payment?
No. It cannot be done by the bank. They can add the late payment fee & other charges to your credit card account but cannot automatically deduct amounts from your checking account - unless, you have given them standing instructions to debit monthly card payments automatically from your account.
What is monthly sales?
reduces prices given every month
What bank finance salute credit card and if they are no longer financing their credit cards My account was closed and a manager from customer service at Salute told me this.?
CompuCredit of Atlanta is behind the Salute scam. They recently closed everyones account and are still charging the monthly maintenance fee. This fee is for having a active credit card. The agreement is that for paying the monthly maintenance fee that you would be given a credit card.
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To help people with their everyday questions.
