0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is trial balace?
A trial balance is a list of all the nominal ledger (general ledger) accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit value balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance...cj pulgar
What is created at the end of the year in the accounts payable department?
At Year End usually there is a balance sheet item called "Trade Creditors" or something similar, this should be documented with a complete list of outstanding invoices with payment due to you.
List 6 users of accounting information?
1 - Financial institutions 2 - Creditors 3 - Banks 4 - Public 5 - Creditors 6 - Investors
How can you find addresses or phone numbers for old creditors you find on your credit report so that you can either pay them or dispute them?
At the end of your CBR there should be a list of the names and addresses (sometimes phone number) of all creditors involved in your CBR. Most of the time they can be contacted that way. If they have no phone number I would reccommend taking the info you do have and searching the web.
What are the steps in preparing a trial balance?
The trial balance is a worksheet on which you list all your general ledger accounts and their debit or credit balance. It is a tool that is used to alert you to errors in your books. The total debits must equal the total credits. If they don't equal, you know you have an error that must be tracked down. In a trial balance you list all Assets Liabilities Owners Equity (Stockholders Equity) Basically you use your accounts from your General Ledger.
How do you get your creditors list?
You can get a list of your creditors by checking your credit report. Most of all creditors will report to the agencies and will have a record.
Do creditors list a charge-off on credit reports as of the bankruptcy filing date or as of the discharge date?
Creditors list the charge off date as the date the bankrupcty was filed
Do you have to list credit cards with a zero balance in a bankruptcy?
no
List and discuss FOUR reasons why a country should be concerned about its balance of trade?
Prevent adverse balance;credit,competitive
Is there an online site that I can do a comparison of balance transfer offers amongst a variety of credit cards?
Yes, you can find online sites that list credit card offering balance transfer. The following is one such site. http://www.creditcardcompare.com.au/balance-transfer-credit-cards.php
Will a closed credit card account receive notice of a bankruptcy filing?
Only those creditors you list on your bankruptcy schedules / creditor matrix (list) will receive actual notice.
Do you list a landlord on the list of creditors in a bankruptcy?
You do if you owe him money. You must include ALL creditors.
When renting an apartment does it show on your credit report?
When you fill out an application for credit, one of the questions is Rent? Own? That answer will show on your credit report right next to your address. Whether you paid rent on time won't show in your list of creditors.
What is trial balace?
A trial balance is a list of all the nominal ledger (general ledger) accounts contained in the ledger of a business. This list will contain the name of the nominal ledger account and the value of that nominal ledger account. The value of the nominal ledger will hold either a debit balance value or a credit value balance. The debit balance values will be listed in the debit column of the trial balance and the credit value balance will be listed in the credit column. The profit and loss statement and balance sheet and other financial reports can then be produced using the ledger accounts listed on the trial balance...cj pulgar
What is the difference between free credit report and credit score?
A free credit report is a list of your debt history. It shows all of your personal information, creditors, account balances, and paid-off balances. A credit score is basically just a rating given to you by credit card companies to show your standing with them.
Do you have to list all credit cards when filing for bankruptcy even one with a 0 balance?
Yes, you have to list EVERY creditor that you have an account with, even those that you are current with or have no balance due. You can run the risk of getting in trouble with the bankruptcy court if you don't.
How do you find out what collection agency you owe to?
An easy way to find out what collection agencies you owe money to is by pulling your credit report. Credit reports will list balances with all creditors as well as if any balances were turned over to collection agencies.
