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What account would you post cash paid into business by investor?
Wiki User
∙ 12y ago
debit cash credit stockholder equity if business is a corporation
Wiki User
∙ 12y ago
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What is a margin account?
A " Margin Account" is a type brokerage account in which the broker-dealer lends the investor cash, using the account as collateral, to purchase
When a business pays cash on account a liability account is?
reduceds
Why would a business open a checking account instead of a savings account to manage cash?
because there just good like that
Where can you cash a 33000.00 government check without a business account?
The only way to cash a check that large might be to take it to a bank and open a business account, or you may be able to deposit into a personal account. If it is for payment to a business, opening a business account might be your only choice.
When an owner deposits cash in an account in the name of the business it is an increase to?
When an owner deposits cash in the bank account of his business, the bank account (assets) will increase in his books and payable account (Liabilities) will increase in the books of the bank.
What account is credited when electronic funds transfer is used to pay cash on account?
business account
How do you do withdrawal cash from business bank account for personal use?
[Debit] Drawing account [Credit] Cash account [Debit] Owners capital [Credit] Drawing account
When a business makes a sale on account which account is debited in the accounting entry?
Cash book
What is cash on hand?
Cash on Hand is the value of the contents of your Petty Cash Box and any other actual cash belonging to your business that has not yet been lodged to the business Bank Account.
Is it legal to cash a check made payable to a business?
Yes, as long as you are cashing the check on behalf of the business (as a legal representative of the business) or if you are depositing the check into the account held by the business you can legally cash the check. No - of you are not a representative of the business or if you are trying to deposit it into an account that doesn't belong to the business.
Is an owners drawing account is a debit?
Yes owners drawings account is debit because cash is credited when withdrawal to reduce the cash from business.
What is drawings in accounting?
it's the cash removed by the owner of the business from the account of the business for his personal usee
