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Does od mean overdraught on bank statement?
OD stands for Over Draft or Over Drawn. Over Draft - is a facility wherein a bank will allow you to withdraw money from your bank account even if you don't have sufficient funds currently in your account. Over Drawn - An account is said to be over drawn if the customer has utilized his overdraft facility and withdrawn funds from his account.
Bank charged you for over draft protection on a closed account?
This bank account at TCF bank had been closed for over six months.Now we are being charged for over draft protection.It looks like a annual fee thay are charging on a closed account.How can a bank charge on a closed account and then charge for insufficient funds.
How will make entry for bank over draft?
In the books of customer cash a/c Dr. To Bank (OD) A/c (Being cash withdrawl from bank overdraft account)
What financial statement summarizes a company's earnings?
The financial statement that summarizes a company's earnings is the income statement, also known as the profit and loss statement. It provides an overview of revenue, expenses, and profits or losses over a specific period. The income statement allows stakeholders to assess the company's financial performance and profitability.
How income statement related to the statement of financial position?
The income statement and the statement of financial position (balance sheet) are interconnected financial statements that provide insights into a company's performance and financial health. The income statement summarizes revenues and expenses over a specific period, resulting in net income or loss, which is then reflected in the equity section of the statement of financial position. This net income contributes to retained earnings, impacting the overall equity and asset liabilities of the company. Together, they offer a comprehensive view of a company's profitability and its financial standing at a specific point in time.
Does od mean overdraught on bank statement?
OD stands for Over Draft or Over Drawn. Over Draft - is a facility wherein a bank will allow you to withdraw money from your bank account even if you don't have sufficient funds currently in your account. Over Drawn - An account is said to be over drawn if the customer has utilized his overdraft facility and withdrawn funds from his account.
How do you record bank overdraft in accounting?
Dr Cash Cr Bank Over Draft
How old do you have to be to have a bank account with an over draft facility?
21
Where does cash go on the income statement?
Cash does not appear on the income statement. The income statement shows a company's revenues and expenses over a specific period, while cash flow is shown in the statement of cash flows.
Where does cash go on an income statement?
Cash does not appear on an income statement. The income statement shows a company's revenues and expenses over a specific period of time, while cash flow is shown on the statement of cash flows.
Bank charged you for over draft protection on a closed account?
This bank account at TCF bank had been closed for over six months.Now we are being charged for over draft protection.It looks like a annual fee thay are charging on a closed account.How can a bank charge on a closed account and then charge for insufficient funds.
Bank Over Draft apply letter?
Please be good enough to request Over draft Interest facility Within sixty day we are cover this facility.
What is the income statement?
The Income Statement is an accounting of income and expenses that indicates a firm's net profit or loss over a certain period of time, usually quarterly or yearly - a statement of operating expenses & revenue for a specific accounting period.
The income statement is the major device for measuring the profitability of a firm over a period of time?
The income statement is in fact the major device used for measuring the profitability of a firm over time. Unlike the balance sheet that just shows the firms net worth an income statement shows both the revenue and expenses over a time period.
Can a bank freeze your account over a sworn affidavit from an individual statement?
No, a bank will not freeze your account without a court order from a judge. They won't freeze an account over an individual statement.
Difference between a bank loan and a bank overdraft?
A bank loan is a note that is repaid over years. A bank draft is only used when you don't have the funds in your account.
What kind of items are posted in the Income statement?
An income statement reports a company's revenue over a period of time. The items posted on the statement are operating and non-operating items including net sales, cost of goods, depreciation, interest, and income taxes.
