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Where does the funds that are left over in a 529 account after all college expenses have been paid go to?
Wiki User
∙ 9y ago
account holder
Wiki User
∙ 9y ago
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Accrued expenses are expenses that have been paid but not incurred?
Accrued expenses are paid after being put on the company's financial books. Every entry that is adjusted for accrued expenses is listed as a debit on an expense account, increased expenses on an income statement, net income reduction, credit on a payable account, and increased liability on the company's balance sheet.
Can I remove my funds from a moneymarket savings account without a penalty?
I haven't been able to find a site where it states that you would get a penalty for removing your funds from your moneymarket savings account. There might be more information though to if there really is one or not.
How much does the average 30 year old have in a savings account?
The average 30 year old most likely has less in savings than the average 20 year old, becasue of college expenses and car payments that have been made throughout the years.
What does restrained bank account mean?
When a bank account is RESTRAINED it means that the bank has put a "freeze" on the account and no funds may be withdrawn by anyone. Usually this is the result of some party with a judgment against the account holder who --by virtue of their judgment obtained in court-- has the right to go after any assets of the account holder. While RESTRAINED, all funds remain at the bank (minus any bank fees the bank may charge for having to process the Restraining Order). Ultimately the funds will meet one of the following fates: After a year, the Restraining Notice will expire (but a new can be issued quickly); or the account holder will sign over all or part of the funds in the account to whomever holds the judgment against them, and the account will be "normal" again after that; or if the account holder refuses to release any funds the judgment holder can send the local Sheriff or Marshall in to seize the funds, after which the account again returns to "normal" status but at that point the account is no longer considered RESTRAINED it is said to have been levied.
What can you do if your bank account has already been frozen and you need the money in the account to pay back some of your debt?
AnswerTry to vacate the judgment through the court that entered the judgment. This may temporarily release your bank account funds if you were not properly served.
What is journal entry of preliminary expenses?
preliminary expenses account debit to cash account (if the amount has been paid in cash)
What is provisional entry in accounts?
Provision entries are entries that are made to account for expenses that have not been accounted in the period for which it relates. Hence the provision is created by debiting the expenses and crediting the party account or liability account.
What crime is it to take from a bank account that is in joint tenancy?
If two people own a joint bank account and one withdraws the funds there has been no crime committed. Each has the right to the funds in the account.
What is undeposited funds in manual accounting?
It refers to the funds or payments that a business or individual has received but has not yet deposited into a bank account. This typically occurs when a business collects cash, checks, or other forms of payment from customers or clients but has not yet completed the process of depositing these funds into their bank account.
Accrued expenses are expenses that have been paid but not incurred?
Accrued expenses are paid after being put on the company's financial books. Every entry that is adjusted for accrued expenses is listed as a debit on an expense account, increased expenses on an income statement, net income reduction, credit on a payable account, and increased liability on the company's balance sheet.
Can you have money direct deposited into your closed account in order to reopen it?
If your account was closed by you going into the bank and withdrawing the balance of the funds to close account, no. This account has been officially closed and is no longer active. However, if your bank account was closed due to lack of funds and put into the overdraft mode; yes. In fact you need to deposit funds as soon as possible to bring the account into the positive and to avoid any further charges or collection issues. NO
How long does a person have to get their money back after funds have been confiscated from a judgment in a joint checking account?
ere does a prpoperty tax is place in account chart i.e.P/L account
What is an imprest account?
(i) An account into which a fixed amount of money is placed for the purpose of making change or minor disbursements. (ii) An imprest account is one that always has the same balance; an exact amount of cash in deposited into the account for a known specific future purpose (such as an upcoming payroll), and the same amount leaves the account when the funds for that purpose are expended. (iii) In the United Kingdom, a record of the transactions of a type of petty cash system. An employee is given an advance of money, an imprest, for incidental expenses and, when most of it has been spent, he or she presents receipts for the expenses to the accounts department and is then reimbursed with cash to the total value of the receipts.
Can I remove my funds from a moneymarket savings account without a penalty?
I haven't been able to find a site where it states that you would get a penalty for removing your funds from your moneymarket savings account. There might be more information though to if there really is one or not.
If your bank account has been frozen because your ex-husband filed for bankruptcy how can you get your funds out?
A bank account can usually only be held for thirty days from the time it is secured. The joint account holder should contact the bankruptcy trustee to learn what is necessary to have their percentage of the funds returned.
What does extracted student loan funds mean?
It means that the loan has been approved and and removed from your account to be dusbursed to the school.
How much does the average 30 year old have in a savings account?
The average 30 year old most likely has less in savings than the average 20 year old, becasue of college expenses and car payments that have been made throughout the years.
