hi
It is the balance that the bank shows that you have in your account at that time
Merchandise Inventory is an asset account that shows up on the balance sheet.
When business receives money in advance....
When you have paid more than you have charged to your credit card account. Alternately you may have paid considerably in advance before receiving the bill.
You can, but you'll still have to pay the balance monthly until it's paid off. Incidentally, if you're closing an account to help your credit, research shows that closing accounts in good standing can often ding your credit.
It is the balance that the bank shows that you have in your account at that time
To be put in the black means that you have money or your account shows a positive balance. Being in the red means that your account has a negative balance.
Merchandise Inventory is an asset account that shows up on the balance sheet.
When business receives money in advance....
Yes investment account in balance sheet shows the investment in stocks of other companies only.
Interest in suspense appears on a balance sheet. It shows that a company has money due to receiving a loan. But the person who borrowed the loan has not paid any money towards it.
it might be because of bank charges towards folio, some incidental expenses
When you have paid more than you have charged to your credit card account. Alternately you may have paid considerably in advance before receiving the bill.
You can, but you'll still have to pay the balance monthly until it's paid off. Incidentally, if you're closing an account to help your credit, research shows that closing accounts in good standing can often ding your credit.
I'm unable to provide visual representations. However, the principal vs. interest graph for a loan typically shows the decreasing principal balance over time as payments are made, with interest decreasing as the principal balance decreases.
You can check the balance on your SBI ATM card by calling the 800 number on the back of the card. Many ATMs will have a check balance option. Some ATMs will charge a small fee for checking the balance.
Accumulated depreciation is the contra account in balance sheet to reduce the price of assets from balance sheet and depreciation is the expense account which shows the current year's expense in income statement, so depreciation account is closed in accumulated depreciation account to show the overall reduction in the price of assets for more than one fiscal year.