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Bank charged you for over draft protection on a closed account?
This bank account at TCF bank had been closed for over six months.Now we are being charged for over draft protection.It looks like a annual fee thay are charging on a closed account.How can a bank charge on a closed account and then charge for insufficient funds.
Income and Expenditure Account Meaning?
Income - is any money being paid into the business. Expenditure is anything paid out - from a paper-clip to a company car
What are two risks of accepting a personal cheque?
Other than them bouncing, being forged, or drawn on a closed account?
What is a disposal account in accounting?
A disposal account is a gain or loss account that appears in the income statement, and in which is recorded the difference between the disposal proceeds and the net carrying amount of the fixed asset being disposed of.
What is the difference between 'paid' and 'closed' on a credit report?
The general rule is "paid" means the account has been, well, "paid." Closed means the account has been closed or written off by the original creditor. This could mean they gave it up as being uncollectable or they have sent it to a collection agency or sold it to a third party creditor.
What is the best way to close a credit card account you recently opened and then paid off?
Most ccc's will close an account by telephone. It is preferable however, to do so in writing and to request written confirmation of the account being closed.
What percentage of royalty income is the depletion allowance?
The depletion allowance for royalty income is typically 15% of the gross income from the property. This allowance is designed to account for the reduction in the value of the mineral or natural resource being depleted.
What is dishonoured cheque?
A dishonoured cheque is a check that the bank returns for the following reasons • There are insufficient funds in the account that the cheque is drawn on; or • A cheque is issued on an account, which had been closed for reasons other than being blacklisted under the Credit Bureau or closed for legal reasons. by latie lethola
Should every income have a corresponding asset?
For the first entry, yes, pretty much. If a company receives money from Income that is recorded as income and cash, cash being the asset account. If the company records the income as a recievable, meaning the customer hasn't paid yet, then the account would be an Accounts Receivable, also an asset account. Though income is recorded on the Income Statement and not the Balance Sheet, the revenue from said income becomes an asset, adjusting entries later on the books will take care of anything else, such as merchandise, inventory, cost of goods sold (if a merchandising company) or other expenses related to said income.
Is closing a bank account bad for credit?
Closing a bank account typically does not directly impact your credit score. However, if the account being closed is your oldest account or if it affects your overall credit utilization ratio, it could potentially have a negative impact on your credit in the long run.
Why are accounts closed out?
Revenues and expenses are accumulated and reported by period, either a monthly, quarterly, or yearly. To prevent their not being added to or commingled with revenues and expenses of another period
How does a closed fraudulent account from a collection agency affect your credit?
It depends on many factors. If the fraudulent account was actually being paid on time, then it might negatively affect your credit score if it were closed. BUT most fraud cases usually end up with the fraudster NOT PAYING the account, which causes late payments and collections. If the creditor agrees the account was fraudulent, then they should REMOVE the account, not just simply show it as "closed". If they haven't done this, you need to dispute this with the credit bureas. Check out this site I've found with lots of helpful information. www.creditscorehero.com
