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What future implacations does a charged out credit card balance have and what does charged out mean?
Wiki User
∙ 16y ago
Charged out means you cant charge any more on your card, & the furer implications it will have is it will slowly make your credit bad credit till you pay your credit card off where their is no more out standing balanc.
Wiki User
∙ 16y ago
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Is bonds payable debit?
Bonds payable is liability for business which is refundable in future and like all liabilities which have credit balance as default balance bonds payable also has credit balance as default balance.
Is note payable a credit or debit?
Notes payable is a liability for business payable in future time so like all liabilities which has credit balance, notes payable also has credit balance and shown under current liability section of balance sheet.
What is a payable considered on the trial balance?
Payable is considered as liability and shown in credit side of trial balance as these are those amounts which are receivable in future period of time.
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
What is the normal account balance for the accounts payable ledger account?
1. As accounts payable is the liability of the company to be paid in future so in this way like all other liabilities accounts balance, accounts payable has also credit balance.
Is bonds payable debit?
Bonds payable is liability for business which is refundable in future and like all liabilities which have credit balance as default balance bonds payable also has credit balance as default balance.
Is note payable a credit or debit?
Notes payable is a liability for business payable in future time so like all liabilities which has credit balance, notes payable also has credit balance and shown under current liability section of balance sheet.
Is accounts payable a debit or credit?
Accounts Payable is the amount which is payable by company for the merchandise purchased by company but payment is due in future, as it is the liability of company so like all liability accounts it has credit balance as normal balance.
What is a payable considered on the trial balance?
Payable is considered as liability and shown in credit side of trial balance as these are those amounts which are receivable in future period of time.
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
If you close a credit card that has a balance on it will it hurt your credit score oppsed to waiting until the balance is paid in full?
Canceling cards usually does lower your FICO or credit score; if you have a balance on a card, pay it off or transfer the balance to a lower-interest card. Then take scissors and cut up the old card (and any new ones they send you in the future). But then you don't need to actually cancel it.
What are some advantages of low fixed rate credit cards?
The advantage of low fixed rate credit card, it allows the card holder to pay for minimum balance without paying for a high interest rate, and not to accumulate a unpayable balance for the future.
Debit card and credit card?
A debit card is connected directly to a bank account. The money being charged must be present in the account. A credit card is used with a promise to pay the creditor in the future.
Is supplies a debit or a credit?
Supplies are those items which is usable in near future like office supplies etc so it has debit balance as default balance and shown under current assets of business in asset side of balance sheet.
What is the normal account balance for the accounts payable ledger account?
1. As accounts payable is the liability of the company to be paid in future so in this way like all other liabilities accounts balance, accounts payable has also credit balance.
How to treat Creditor in a balance sheet?
Creditors are the people which gives products on credit to business for payment in future, as it is liability of business so it is shown under current liability at liability side of balance sheet .
What does a minus balance on acredit card mean?
If your credit (not debit) card has a negative balance on your statement, then there is an overpayment (you paid more than you owe). So now they owe you money. This is usually applied towards future charges.
