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I have some money despoisted on my PayPal account if i spend that money does the charge appear on the bank statement or not because it isn't whithdrawing money from the bank is it?
Wiki User
∙ 12y ago
you did not mention if your account comes in a passbook or an ATM card. if it is a passbook account, bank charge will only appear in your bank statement if you fall below the bank's minimum balance requirement. and if it is an ATM, bank charge will also appear if you withdrew your money to other bank's ATM machine.
Wiki User
∙ 12y ago
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How does statement of account prevent fraud?
The Statement of Account helps to prevent fraud because it tells you how much money has gone out of the bank.
Why not display my bank account statement pdf format in my mobile?
Your bank account statement is not being displayed in pdf in your mobile because your mobile phone lacks the pdf reader.
How do you prevent financial statement fraud?
The Statement of Account helps to prevent fraud because it tells you how much money has gone out of the bank.
Is checking account statement mandatory?
Yes. It is mandatory. The bank is supposed to send a periodic statement to its customer to ensure that the customer can keep track of what is happening in their bank account. However, if it is a passbook account, an account where the bank issues a passbook for the account, sending statements is not mandatory because the customer already has a book that contains those details.
What does D mean on a ATM statement?
D stands for Debit on an ATM statement. A Debit is a transaction wherein money is debited or withdrawn or taken out from your bank account. For Ex: You use your ATM card to withdraw money from an ATM, this transaction will be reflected as Debit in your account because you have taken money from your account.
Is Purchase Discount revenue or expense?
Sales discount is not an expense account, but is also a deduction to an income statement. It is just a contra account of a revenue account particularly a sales revenue account.
How do you understand why every person can not open an account?
Because people have different finacial statement, and yoyu can not open an account while you are not bankable nbesides banks don't give loan to poor because they can't be able to pay back the loan with interest easily.
Does every adjusting entry have an effect on determining the amount of net income for a period?
Yes it will, because all adjusting entries affect at least one income statement account and one balance sheet account.
What is circular logic?
Circular logic would be a statement or series of statements that are true because of another statement, which is true because of the first. For example, statement A is true because statement B is true. Statement B is true because statement A is true
Why does expense account require a debit entry to increase equity?
A debit to an equity account, or in this case an expense account, will increase the expense account. An increase to this account means the more expenses you have. The more expenses mean the less money you earn and therefore you make less money in your income statement because revenues - expenses = income
Is purchase return is contra account?
Purchase return is a contra account because it reduces the balance in the Purchase account in an attempt to determine cost of goods sold. This is like sales returns and allowances being used to determine net sales on an entity's income statement.
Accompanying the bank statement was a debit memo for an nsf check received from a customer?
This means that a check you took from a customer could not be deposited into your account because they did not have the money to cover their check. The bank deducted the amount of the check from your account.
