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Not necessarily. You should have a high credit limit, but not use more than 50% of it. This is what improves your score. As a good rule of thumb, don't get into credit debt. Pay off the balance.
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
It will remain on the report for the required length of time and should be marked "included in bankruptcy."
Credit balance (it's an equity account - and should normally have a credit balance, if it doesn't you have issues that need to be resolved, pronto) - should be the par value times he number of shares... andt here can be shares issued with different par values, keep that in mind.
Your debt is always taken into account. If your income can handle the credit debt and the mortgage there should be no problem. High credit card balances do not mean bad credit. Late or no payments make bad credit. Your better off with a high balance on a credit card that you pay regularly than no credit at all.
Revenues has credit balance as default balance and as services revenue is also a revenue account it means it should have credit balance as well and not a debit balance.
No. A revenue account should always show a credit balance.
Stock is an asset so it should always be a debit balance.
the letter of credit is not shown in the balance sheet, since it's a contingent commitment but it should be disclosed in a separate note
Accounts Payable is a liability so it should be a credit balance.
added to bank balance
Your sister should not be paying on the credit card balance. In fact, the credit card company cannot even legally send her statements because she is protected by the automatic stay.
Not necessarily. You should have a high credit limit, but not use more than 50% of it. This is what improves your score. As a good rule of thumb, don't get into credit debt. Pay off the balance.
Debit fund balance and credit encumrances because the reserve for encumbrances need not be closed because it is a balance sheet account.
Yes. Amounts owed accounts for about 30% of your credit score. Ideally your utilization rate should be 20% or less. Paying your credit card balance to 20% or less will improve your credit score.
20%
Prevent adverse balance;credit,competitive