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It is the balance that the bank shows that you have in your account at that time
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What is the usual balance of the account Cash Short and Over?
debit
Is short-term debt the same as current liabilities?
Essentially, yes.Many times a company has Long-term debt, with a certain amount to be repaid within the year. On the company's balance sheet they will have the remaining amount of their Long-term debtincluded in Non-Current Liabilities, while in Current liabilities they will have the Current portion of long-term debt.Basically, the balance sheet has a section for Current liabilities, which would include accounts with debts to be repaid in the short-term (generally within the year). Normally it is not listed as Short-term debt, but rather an account like Accounts payable or Bank loan, or as I stated earlier, Current portion of long-term debt.
What kind of account is linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account?
The account you are asking about is called a contra account. One example of a contra account is "Accumulated Depreciation." Accumulated Depreciation (or A/D for short) is grouped with fixed asset accounts on the balance sheet. The normal balance for A/D is a credit, while all other asset accounts (besides other contra accounts) have a normal debit balance. The credit balance in A/D is netted with the debit balance in fixed assets to determine the net book value (NBV) of the fixed assets.
Does bank overdraft go on a balance sheet or income statement?
Bank overdraft is shown in balance sheet same as bank account or any other cash account, it's a short term bank credit.
Is short term debt a current liability?
Yes short term debt is a current liability for business and payable normally within one fiscal year and shown under current liability section of liability side of balance sheet.
What is the usual balance of the account Cash Short and Over?
debit
Is short-term debt the same as current liabilities?
Essentially, yes.Many times a company has Long-term debt, with a certain amount to be repaid within the year. On the company's balance sheet they will have the remaining amount of their Long-term debtincluded in Non-Current Liabilities, while in Current liabilities they will have the Current portion of long-term debt.Basically, the balance sheet has a section for Current liabilities, which would include accounts with debts to be repaid in the short-term (generally within the year). Normally it is not listed as Short-term debt, but rather an account like Accounts payable or Bank loan, or as I stated earlier, Current portion of long-term debt.
What are the advantages of a current account deficit?
A current account deficit can indicate a growing and healthy economy as in the short term it increases productivity and therefore increases exports in the future.
What kind of account is linked with another account that has an opposite normal balance and that is subtracted from the balance of the related account?
The account you are asking about is called a contra account. One example of a contra account is "Accumulated Depreciation." Accumulated Depreciation (or A/D for short) is grouped with fixed asset accounts on the balance sheet. The normal balance for A/D is a credit, while all other asset accounts (besides other contra accounts) have a normal debit balance. The credit balance in A/D is netted with the debit balance in fixed assets to determine the net book value (NBV) of the fixed assets.
Does bank overdraft go on a balance sheet or income statement?
Bank overdraft is shown in balance sheet same as bank account or any other cash account, it's a short term bank credit.
Is short term debt a current liability?
Yes short term debt is a current liability for business and payable normally within one fiscal year and shown under current liability section of liability side of balance sheet.
What a payable is paid is it a debit or credit?
I am assuming you meant "when" a payable is paid?A "payable" is a liability to the company, it is something they owe. For example, Account Payable. Liabilities maintain a credit balance, meaning they increase with a credit and decrease with a debit.In short, when you "pay" the payable, you are decreasing what you owe by the amount paid and therefor will "debit" the payable account.
Amount of cash overages for a period exceeds the amount of cash shortages the balance in the account cash short and over will be?
credit
What is meant by the term current assets?
Current assets are an individuals or a companies current valuable. These valuables, also known as assets, can be cash, cash equivalent things and short-term investments.
Can a check be cashed if your account is 50 dollars short for what the check is written for?
If someone tries to cash a check you wrote for an amount higher than your current balance, the check will bounce. In this case, you will be charged a fee and the payee might get charged a fee as well. Try to put cash into your account before the person cashes the check.
Current installment of long term debt?
The current portion of long-term debt is usually broken out to an a liability account known as Current Portion-Long Term Debt. This is usually for a 12-month period. Using the amortization schedule for the loan, debit the long-term note account for the 12 month period of principal and credit the short-term liability account. Then when the payment is made, debit the principal to the short-term account and the interest to interest expense.
How do you check your balance on Vodafone pay as you go phones?
i have prepaid mobily internet line how i know my balance of time to use
