Diff. between CC account & current account
i am a student and wanted to open my account should i open a current account or credit account
owners current account is called a personal account and it has a credit entry
current liability
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
checking from bank fund & credit card prepaid by credit
i am a student and wanted to open my account should i open a current account or credit account
owners current account is called a personal account and it has a credit entry
current liability
Yes as long as it's a different account.
Cash is "not" a credit in accounting. The cash account is an asset and is a debit balance account. To increase the cash account you debit the account and to decrease it you credit it.Cash = Current Asset = Debit Balance(GAAP)
checking from bank fund & credit card prepaid by credit
There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).
It's on the Debit side. A current asset. A = Assets --------DEBIT L = Liabilities -----------------------------CREDIT O = Owner's equity --------------------------CREDIT R = Revenue ---------------------------CREDIT E = expenses --------DEBIT All expenditures in different heads of accounts are debit and all income are credit. for an example, you deposite a certain amount to your correspondence bank. To your company's account register bank account of that certain amount will be debit & your company's account will be credit of that said amount. Credit decreases the normal balance of Office Supplies account.
A bank balance is the amount by which a current account is in credit or deficit.
Purchase on account means purchases from vendors on credit while sales on account means selling to customers on credit.
Branch retained earnigs - Debit Profit from Branch - Credit Bank account - debit Branch retained earning - Credit Current account - Branch - Debit Bank Account - Credit
There are several different credit cards offered by banks for students based on their age, credit, and current employment. There are other criteria as well.