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Is a financial association created on your credit report when two people apply for any type of joint financial account?
Yes, anytime you open a new credit account, even if it is a joint account, it is reported on your credit report either when it is opened or when it is unpaid.
What else can I help you with?
When was Xceed Financial Credit Union created?
Xceed Financial Credit Union was created in 1964.
When was Tropical Financial Credit Union created?
Tropical Financial Credit Union was created in 1935.
When was TruMark Financial Credit Union created?
TruMark Financial Credit Union was created in 1939.
When was Wings Financial Credit Union created?
Wings Financial Credit Union was created in 1938.
When was Police Association Credit Co-operative Limited created?
Police Association Credit Co-operative Limited was created in 1974.
What is the financial accounting entry for check cashing?
[Debit] Cash account [Credit] bank account
A share draft account is another name for a checking account in what type of financial institution?
credit union
What does it mean to credit an account and how does it impact the financial status of the account holder?
Crediting an account means adding money or funds to it. This action increases the account holder's financial balance and can improve their financial status by increasing their available funds or assets.
Can you explain the difference between debit and credit in terms of financial transactions?
Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.
What is a share in financial accounting and what are the journal entries for the shares?
When applications received Debit Cash account Credit Share applicant account [debit] Share applicant account [Credit] Share application account When share allocated [Debit] Share application account [Credit] share capital account
Sample of MT 103?
A MT103 is a SWIFT message for Customer Transfer sent by the FInancial institution initiating the transfer(the Debit leg) to the Financial Instution of the benificary(credit leg). It is an unconditional transfer ie when a Financial Instution gets a MT103 to credit a customer account it had to credit the customer account. PS: SWIFT - Society for Worldwide Interbank Financial Telecommunication.
What is balence?
The balance is the difference between the totals of the credit and debit sides of a financial account.
