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What is the meaning of close the Profit and Loss Summary account?

profit is when the company is making money and a loss is the company is not making money.


What happens if you do not close your bank account balance is fall than minimum?

nothing will happen you can put some more money in the bank account to resume it


When can you close your fathers estate account and keep the money as an heir?

when can you close my fathers estate account and keep the money.


What is account payable and receivable?

Account payable is a record of money your company owes to another company/person. Account receivable is a record of money owed to your company by another company/person.


Can a bank close your account?

It the account is left inactive for a long time with no money in it they may opt to close the account.


Can a bank close your account with money in it?

Yes, a bank can close your account even if there is money in it, as long as they provide notice and return the funds to you.


What happens to your money if you forfeit a deposit?

There will be no money in the account


How do you recognize account payable?

Account payable is an account that is a Liability (current). When a person or company owes another company money on account, that is an account payable.


What happens when money is deposited in account is it credited or debited?

deposited money is credited to your concern bank account


If you have a joint checking account with your husband can he close it or remove your name without your signature?

He cannot remove your name from the account. However, he can close the account and then open a new account with the money. Just remember this can work both ways. With a joint account either person can go in and close the account out and then take the money and open themselves a new account. Most of the time it depends on who makes it to the bank first to close out the account.


How do you close bank account?

Withdraw all money from the account and give an account closing letter to Bank.


Who regulates PayPal. co.uk this company stole My money you have had to take court action against PayPal .co.uk on 3 occasions when it refused to release your money you tried to close your account.?

They Regulate themselves