0
Reginald's credit card statement states that his balance is 550 What does the term balance mean?
Wiki User
∙ 13y ago
The 'balance' of his statement is the monetary value of his account with the credit card company. In this case it is the amount he owes the company.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How would you define balance sheet?
A balance sheet is a statement of the financial posting of a business which states the assets, liabilities and owners' equity at particular point in time
Theory of debit and credit?
The Debit Credit Theory states that all Debits must be equal to all Credits. (aka when you debit something, you have to credit the same amount, to make it balance)
If a car is sold after repossession does law state that it must be reported to the bureau as zero balance?
If a car is sold after repossession does the law states that it must be reported to the credit bureau as zero balance?
What is a pre-approved credit card?
It's simply a statement by a card company that states IF you apply for their card, you're almost guaranteed to be accepted. It still depends on your credit rating, though.
What does QPS mean in the description line on your credit card statement?
QPS stands for Qualified Processing Services. They are a credit card merchant underwriter that processes a large portion of credit card funds transfers in the United States. All this means on your statement is that the place you used your card is using a merchant service whose underwriter is QPS.
I got a letter from a collections agency who states that I can still pay the balance due with the company I owe Blockbuster I have already paid the balance Will this appear on my credit report?
Very possibly. Contact Blockbuster immediately to try and resolve.
Do sales on a profit loss statement include the sales tax?
It shouldn't. Collections of sales tax results in a current liability, as the funds collected are supposed (stressed VERY heavily) to be remitted to the state. Some states give a credit of 1% or so of the collections as compensation for collecting, remitting and reporting sales tax collections, and THAT credit may be lumped into sales if the figure was small enough 0 typically it is. IE: $100 sale 6% tax - total received = $106.00 Debit - Cash $106.00 Credit - Sales Taxes Payable - ($ 6.00) Credit - Sales ($100.00) Tax collected and paid never hits the income statement, it stays on the balance sheet.
What is a financial plan in business planning?
A financial plan typically has a projected financial statement that is your balance sheet, income statement and cash flow statement. It typically states how much money you will make in the future, how much money will be coming in, how much will be going out, how much you owe to whom and how much you own. Besides these, it also states how much money you require to start or grow your business and for what purpose.
Why did people work to keep Balance between the number of slave states and free states?
Maintaining a balance between slave states and free states was important to prevent one side from gaining too much power in the government and potentially leading to a breakdown in the Union. This balance was crucial to preserve political stability and avoid escalating tensions over the issue of slavery in the United States.
What statement correctly states the basic economic premise?
Income Statement , Position Statement and Cash Flow Statement correctly states the economic premise of a company
What is a mission statement for business?
A mission statement states the aims and purpose of a business.
Leaving United States without paying credit card off?
Some companies can come after you. Now business is global and it is not a BIG deal to come after you. But if the balance is in just hundereds but not thousands, it might not happen
