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What is the term used for a negative checking account balance?
Wiki User
∙ 15y ago
"Overdrawn" is the common term used to describe a negative checking account balance.
Wiki User
∙ 15y ago
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Is the amount of money in your checking account called your allowance?
No, the proper banking term is balance for an amount in a checking account.
What is the term for the amount of money you have in your account?
The amount of money available in an account is usually referred to as the "balance" of the account. The cash balance may be positive or negative.
What is the term for money kept in a checking account?
A checking account is called a "demand deposit" because it is available for transfer to another individual or company by writing a check or draft.
If you have an account that is showing negative and it was included in a bankruptcy can you have the negative account removed or does it stay there and count as two negatives?
The term negative is rather confusing. If the account did not have a balance it would not have been included in the bankruptcy. Any account included in a bankruptcy will remain on the report for the requred length of time, open accounts would be seven years, they will be marked included in bankruptcy. The BK accounts listing will remain for 10.
What is a negative collected balance?
Negative collected balance is a term used in accounting to describe accounts that are cannot be collected on. This means that they have tried several times to collect the balance and have been unsuccessful.
Normal Balance of a revenue?
what is the normal balance of a revenue account If your just looking for the term...it's Credit...
Do you enter premises account in balance sheet?
Premises are long term assets of company that's why these are shown in long term assets in balance sheet.
What term indicates the protein status of a client with a severe burn?
Negative nitrogen balance
How do you label negative retained earnings on a balance sheet?
The term "Retained Earnings" is generally used to describe that portion of stockholders equity derived from profits. (An older term, no longer generally in use, is "Earned Surplus".) Retained earnings represents the accumulation of earnings less dividends since the beginning of the company or accounting entity. In successful companies the retained earnings account normally has a positive balance; but if total losses should exceed total net income it is possible that the retained earnings account could have a negative balance. This is generally known as a "DEFICIT", in answer to the question.
Sample balance sheet?
Assets:Current Assets:Inventorycashaccounts receivablelong term assets:buildingplantlandcurrent liabilities:accounts payableloan payablelong term liabilities:long term loanscapital account
The difference between the balance of a fixed asset account and the related accumulated depreciation account is termed?
Net Fixed Assets is the term used for the difference between the balance of a fixed asset account and the related accumulated depreciation.
The part of the balance of payments account that lists all long-term flows of payments is called?
Balance of payments is a method that is used to monitor international monetary transactions over a specific period of time. The long term flows of payments is part of the current account.
