0
What method for calculating credit card balance does not take into account the purchases or the payments made during the current billing cycle?
Wiki User
∙ 7y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Which method for calculating a credit card balance takes into account both the purchases and the payments made during the current billing cycle?
Average Daily Balance Method
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.
Which is the most common method for calculating credit card balances?
Average Daily Balance Method
What are accrued expenses reported on the balance sheet as?
As you accrue expenses, they show up as a CREDIT on the balance sheet, and a DEBIT on the income statement. Then as you actually incur the expense and pay out, you would CREDIT your cash account, and DEBIT the accrued liability account on the balance sheet. For example, if you expect to spend $12,000/year on business travelling expenses, you would accrue $1000 monthly as a CREDIT to your accrued liability account (on the balance sheet), then a DEBIT to the expense account (on the income statement). When you actually do incur the expense and pay out, you CREDIT your cash account, and DEBIT the accrued liability account. Thus, the accrued liability account is cleared out and eventually washed out to zero.
What is the account balance if you deposit 125 at 6 percent for 10 years?
It is 223.86
Which method for calculating a credit card balance does not take into account the purchases or payments made during the current billing cycle?
Adjusted balance method APEX
Which method for calculating a credit card does not take into account the purchases or payments made during the current billing cycle?
adjusted balance method ; apex
Which method for calculating a credit card balance takes into account both the purchases and the payments made during the current billing cycle?
Average Daily Balance Method
Which method for calculating a credit card balance does not take into account the purchases or the payments made during the current billing cycle?
Adjusted balance method APEX
Does a debit increase purchase discounts?
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
What is usually the largest single account in the overall balance of payments?
The largest single account in the overall balance of payments is, for most countries, the current account.
What is a basic balance?
A basic balance is the net balance of the combination of a current account and a capital account in a balance of payments.
Is purchasesaccount debit or credit?
Purchases account is personal account in nature and basic rule for personal account is debt what comes in and credit what goes out so purchases is a debit balance as a default balance.
When calculating a country's balance of payments do you use foreign aid?
foreign inflation rates
Is purchases a credit or debit?
Purchases are personal account nature and as a basic accounting rule debit what comes in and credit what goes out so purchases has debit balance as normal balance.
Is purchase a debit or credit balance?
A purchase you make is a DEBIT against your account.
Why does purchases account have a debit balance?
Either you can consider purchase is an expense and a debit balance or an asset an a debit balance
