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The phrase "insufficient number of recently reported open revolving accounts" typically indicates that a credit report lacks a sufficient quantity of active credit accounts that allow for ongoing borrowing and repayment, such as credit cards. This can negatively impact a credit score because credit scoring models often favor a mix of credit types and recent activity. A low number of revolving accounts may suggest limited credit experience or utilization, which can lead lenders to view the individual as a higher risk.
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What part of balance sheet is allowance for doubtful accounts reported?
The allowance for doubtful accounts is a reduction to the accounts receivable. This is a contra account, similar to accumulated depreciation.
How do you find a list of accounts sent to collections?
Get a copy of your credit report from all three bureaus. You can get a free copy each year. This report will tell you all of the collection accounts that are currently reported, and to which of the credit bureaus they are being reported to.
What is mean by accounts receivable?
Accounts receivable also known as Debtors, is the money owed to a business by its clients (customers) and reported as an asset in balance sheet.
What is asset offset of an accounts recievable?
Asset offset of accounts receivable refers to the practice of reducing the reported amount of accounts receivable by recognizing related liabilities or allowances. This can occur when a company anticipates uncollectible accounts and establishes an allowance for doubtful accounts, thereby offsetting the gross accounts receivable balance. The net amount reported on the balance sheet provides a more accurate reflection of the expected collectible amount. This approach enhances financial transparency and ensures that financial statements present a clearer picture of a company's financial position.
Where does accounts receivable go on a multi step income statement?
Accounts receivables would be included in the balance sheet. The income statement reports revenues and expenses. Accounts receivables is an asset account and all the asset, liablities and equity accounts are reported on the balance sheet.
How many Pympy accounts were hacked recently?
More than 50.000 accounts were recently hacked during February of 2013. The leaked data was later uploaded to other breached websites. All passwords have been reported as being encrypted.
Have there been any reported cases of hacked bank accounts and stolen routing numbers in 2015?
Yes, there were reported cases of hacked bank accounts and stolen routing numbers in 2015.
What part of balance sheet is allowance for doubtful accounts reported?
The allowance for doubtful accounts is a reduction to the accounts receivable. This is a contra account, similar to accumulated depreciation.
If you have two accounts and one in chexsystems will the other show in chexsystems also?
No. Only the accounts that have been reported show up in the system.
How does FATCA affect US citizens' savings accounts?
Offshore saving accounts of US citizen are affected. The balance and income of those accounts are reported to IRS for tax purpose
Where do you pay collection accounts that are reported on your credit report when the company is out of business or no longer handles the account that was reported for collection?
You pay the collection agency.
Has anyone reported any luggage left at the airport recently?
Yes, there have been reports of luggage being left at the airport recently.
Is it true they found water in the moon?
Recently it is reported that they have found water on the moon.
How do you find a list of accounts sent to collections?
Get a copy of your credit report from all three bureaus. You can get a free copy each year. This report will tell you all of the collection accounts that are currently reported, and to which of the credit bureaus they are being reported to.
Accounts receivable are reported on the balance sheet at?
Accounts receivable shown in balance sheet at assets side under current assets section.
What credit score will a new green card holder have?
A new green card holder will be in the same situation as any other consumer that has not yet established credit accounts that are reported to the three main credit bureaus. Until you have a traditional credit account that is reported to credit bureaus, you will have no credit history. You will be known as an unscorable, since there is insufficient data to be able to adequately predict your risk of nonpayment on a credit account.
Allowance for doubtful accounts is reported in the a balance sheet or a income sheet?
balance sheet
