answersLogoWhite

0

What else can I help you with?

Continue Learning about Accounting

What stockholder equity accounts follow the same debit and credit rules as liabilities?

Dividens retained earning and capital stock


Are revenue increased on the debit side or credit side?

Revenue is increased on the credit side of an account. In accounting, revenue accounts follow the double-entry bookkeeping system, where credits increase revenue and debits decrease it. Therefore, when a business earns revenue, it records the increase as a credit entry.


Will paying off a few newer accounts in collections help your credit score or will it hurt by staying on your credit report even longer?

Paying off collection or charge offs is NOT SUPPOSED TO reset the DLA (date of last activity). This is the date that determines how long a derogatory account can show on your credit report. You would need to find out the DLA on your specific accounts and follow up after payment to ensure that they are not re-aged. This would be illegal. Better yet, why not offer to pay for removal from your credit report completely?


Will your credit report only show a discharged bankruptcy or will it also show all the accounts included in the bankruptcy?

Your credit report will show both the accounts (which were listed first) and the legal entry of the bankruptcy in the public records portion of your credit report. Once a bankruptcy is discharged, credit grantors should update the account listing (called a trade line) and make sure that no derogatory information is showing (like past due balance or collection account notations) EXCEPT for the "included in bankruptcy" statement. This is what SHOULD happen. It's up to you to follow up and make sure that your credit report looks like it is supposed to after a bankruptcy.


Why might the credit manager be to blame for the deterioration in the credit collection period?

The credit manager may be to blame for the deterioration in the credit collection period if they fail to implement effective credit policies or risk assessment procedures, leading to the extension of credit to customers who are less likely to pay on time. Additionally, inadequate follow-up on overdue accounts and poor communication with clients can result in delayed payments. If the credit manager does not monitor collection performance metrics or adjust strategies based on trends, it can exacerbate the issue. Ultimately, their leadership and decision-making directly impact the efficiency of the credit collection process.

Related Questions

What stockholder equity accounts follow the same debit and credit rules as liabilities?

Dividens retained earning and capital stock


In what order are liabilities listed on the balance sheet and 65311?

Liabilities on the balance sheet are typically listed in order of their maturity, starting with current liabilities followed by long-term liabilities. Current liabilities, which are obligations due within one year, include items like accounts payable and short-term loans. Long-term liabilities, such as bonds payable and long-term loans, follow after current liabilities. This order helps users of the financial statements assess the company's short-term and long-term financial obligations.


Where can one follow the home equity line rate?

Home equity lines of credit, do not have special line rates. Mortgage rates can be viewed at banks and loan companies offer different rates according to circumstances.


Are revenue increased on the debit side or credit side?

Revenue is increased on the credit side of an account. In accounting, revenue accounts follow the double-entry bookkeeping system, where credits increase revenue and debits decrease it. Therefore, when a business earns revenue, it records the increase as a credit entry.


What will increase equity?

Equity share capital can be increased by a bonus issue, a rights issue, Follow on public offering.. Regards Sumit..


If you have too much credit card debt can you move to Canada from the US to avoid it?

As your credit report may not follow you from the US to Canada, you can probably move there and become debt free. Moving back, thou, to the US may be difficult if you are trying to obtain credit as your credit report may have to be accessed and the unpaid accounts may show up.


How is it possible to fix a bad credit score?

There are several things you can do to fix a bad credit score. Some of these follow; delete collection accounts, delete past due accounts, delete chargeoff and liens, delete late payments (contact creditors and request an adjustment so that the late payment gets removed from your account) and last but not least, do not close your credit cards. E.g. if you have two cards where one has a credit of 15,000 and the second has a credit of 5000 and your debt is 10,000 then your debt is 50% of the total. If you close the 5000 one, your debt is 66% and it looks worse.


Will paying off a few newer accounts in collections help your credit score or will it hurt by staying on your credit report even longer?

Paying off collection or charge offs is NOT SUPPOSED TO reset the DLA (date of last activity). This is the date that determines how long a derogatory account can show on your credit report. You would need to find out the DLA on your specific accounts and follow up after payment to ensure that they are not re-aged. This would be illegal. Better yet, why not offer to pay for removal from your credit report completely?


If you are leaving dubai will your credit card debt follow you?

Your credit card debt will follow you but may not be recorded on United Sates credit reports. You will still owe the debt but there may be no record of it.


How can I link accounts on TD Ameritrade?

To link accounts on TD Ameritrade, log in to your account and navigate to the "My Profile" section. From there, select "Link Accounts" and follow the prompts to connect your desired accounts.


How many twitter accounts does DELL have?

They have various accounts. Follow the related link below for a complete run down.


If you leave the US does your credit score follow you?

No