It is a bank account where a person will make regular, monthly savings to build up capital. The savings or deposit account will not normally come with a card or cheque book and the savings in it will attract a higher rate of interest than a normal bank account. However you lose this high rate of interest if you withdraw your money suddenly or before a certain period,
details of profit and loss appropriation account Profit and loss appropriation account is prepared after profit and loss account..It s a account where the profits earned by the company is brought in from profit and loss accont and it s distributed to various accounts like interim divident account, provision for taxiation account, general reserve account etc.....it s a account which shows how the profits are distributed in an organisation.....
12.80
Retained earnings is a temporary account which needs to be closed in owner’s equity account at the time of liquidation of company as it is part of owner’s equity and ultimately closed to owner’s equity account.
Drawings account is contra account to owner’s capital account to reduce the amount from capital account in case of owner with drawl of money from business that’s why it also has debit balance as default balance.
S
Drawings account is contra account to owner’s capital account to reduce the amount from capital account in case of owner with drawl of money from business that’s why it also has debit balance as default balance.
You can`t,it`s permanent.
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S. McGill has written: 'The consumption-smoothing current account'
yes it is
Monkeynuts1970
Whoever is the trustee(s) of the trust for the estate is responsible for the account, including putting money in it.