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If a creditor placed a levy on a bank account can other accounts current and future be suject to the levy?
Wiki User
∙ 15y ago
current accounts not future unless they refile again
Wiki User
∙ 15y ago
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Is an account receivable a revenue?
Accounts Receivable is an asset since it is a resource controlled by the entity as a result of past transaction with the future economic benefit to flow to the entity.Sale of goods and services is a revenue and not accounts receivable.
Define current account and call account?
Current Account is an all-in-one transactional account for your day-to-day business banking needs. Call accounts are ideal for funds you may need in the near future, as they combine easy access to your funds with competitive interest rates.
Can account receiveable be found on a balance sheet?
Accounts receivable are those money which is receivable in future from debtors and it is current assets of business and shown in balance sheet at assets side.
What is the normal account balance for the accounts payable ledger account?
1. As accounts payable is the liability of the company to be paid in future so in this way like all other liabilities accounts balance, accounts payable has also credit balance.
Is accounts receivable classified as a liabilities and equity on a balance sheet?
Account receivable is that part of sales which are done on credit so if company received cash at the time of sales that would be asset as well so it is the amount which is receivable in future so it is current asset of company.
Is accounts receivable a asset or liability?
Accounts receivable is that amount which is receivable from debtors at future date that's why it is current asset of business.
Does accounts receivable go income statement?
Accounts receivables are on the balance sheet. They are an asset of the firm, that is they represent a future economic benefit. The income statement holds the revenues and expenses of the business.
What are the advantages of a current account deficit?
A current account deficit can indicate a growing and healthy economy as in the short term it increases productivity and therefore increases exports in the future.
Debit card and credit card?
A debit card is connected directly to a bank account. The money being charged must be present in the account. A credit card is used with a promise to pay the creditor in the future.
Is a savings account worth the trouble?
A savings account should be a vital part of everyones financial planning. It is good to have separate savings and checking accounts to better prepare for your future.
How can management accounts be useful for decision making?
Because Management Account is useful for the future and may be use for any business currency.
Can you have a bank transfer with saving accounts?
Savings accounts opened with one bank cannot be transferred to another bank. You would have to close your existing bank account and then open a fresh account with the other bank. This feature is not available as yet and I don't think it will be in future as well.
