0
On my account it reads ledger balance and then available balance they are two different amounts what is ledger balance?
There are several definitions, here's a few:
Account balance after all activity for the previous day has been posted to the account.
An account balance that is the result of the total debit and credit activity as of a specific date and time. There is no indication of funds availability or usability.
A record of the balance in a customer's account per the bank's records.
The balance in an account at the beginning of each day, also known as the current balance. Includes all deposits and withdrawals that were posted from the previous night, whether or not funds have been collected. See also: Collected balance.
Hope this helps you.
What else can I help you with?
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
After posting the journal entries to the ledger what is the balance of the cash account?
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
Prepare a ledger using the three column form of account. Enter the tiral balnce amounts and post the adjusting trial balance?
To prepare a ledger using the three-column form of account, you would typically have columns for account names, debit amounts, and credit amounts. Start by entering the trial balance amounts in their respective debit or credit columns based on the account type. Then, post the adjusting trial balance entries by making the necessary adjustments to the account balances based on accrued expenses, prepaid expenses, depreciation, and other adjusting entries. Be sure to update each account balance accordingly in the ledger to reflect the adjustments made.
What is the difference between a current balance and an available balance on a checking acct?
The account balance will reflect any payments made into the account providing the account is on real time banking. So if you pay in any cheques the account balance will reflect this. The available balance will take into consideration any earmarks on the debit card which are due to debit and also any cheques you may have paid in that are at the moment still uncleared on the account.
Difference between ledger balance and available balance?
The available balance refers to the cash that can be withdrawn from the given account. The ledger balance on the other hand refers to the amount that is available in the account.
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
If your ATM balance is 10.00 will the bank close the account?
Depends on where you bank at,, different banks have different amounts like my bank I have to have at least 25 dollars in it at all times
Why does my available balance not match my current account balance?
Your available balance may not match your current account balance because some transactions, like pending deposits or withdrawals, may not have been fully processed yet. This can temporarily affect the amount of money you can access in your 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 purpose of profit and loss suspense account?
The suspense account is a balance used to force the trial balance to agree. Once the errors have been located the respective amounts are debited or credited out of the suspense account until the balance is zero.
What is the difference between a current balance and an available balance on a checking account?
I am not a banking expert, but my understanding is that - say you have 100$ in your account and you pay in a cheque for another 100$, then your current balance will be 200$ but your available balance will be 100$ until the cheque clears (when the available balance will match the current balance). This protects the bank from someone paying in a cheque that may 'bounce' and withdrawing money that never gets put into the account.
Suspense account is a profit or loss?
It's neither. The suspense account is a balance used to force the trial balance to agree. Once the errors have been located the respective amounts are debited or credited out of the suspense account until the balance is zero.
After posting the journal entries to the ledger what is the balance of the cash account?
In order to answer this question, you would need to know the amounts that were originally provided in the account balance and the ones that were booked in the ledger.
Prepare a ledger using the three column form of account. Enter the tiral balnce amounts and post the adjusting trial balance?
To prepare a ledger using the three-column form of account, you would typically have columns for account names, debit amounts, and credit amounts. Start by entering the trial balance amounts in their respective debit or credit columns based on the account type. Then, post the adjusting trial balance entries by making the necessary adjustments to the account balances based on accrued expenses, prepaid expenses, depreciation, and other adjusting entries. Be sure to update each account balance accordingly in the ledger to reflect the adjustments made.
What is the difference between a current balance and an available balance on a checking acct?
The account balance will reflect any payments made into the account providing the account is on real time banking. So if you pay in any cheques the account balance will reflect this. The available balance will take into consideration any earmarks on the debit card which are due to debit and also any cheques you may have paid in that are at the moment still uncleared on the account.
How is your account balance different from your minimum?
300000
