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What type of account is always debited during the closing process?
Wiki User
∙ 12y ago
Revenue
Wiki User
∙ 12y ago
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When posting to the general ledger is drawings always debited?
yes
Does closing a credit card account which was always paid on time harm your credit score?
Strangely enough, yes it does negatively but temporarily affect ones credit score.
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
How do you apply for a bank account?
If you are more than 16 years old you can walk into any bank with a valid identity proof and address proof and open an account. The bank would ask for other documents from you and if you provide them, your account would be opened. It is always a good idea to take someone who has an account with the bank already, this way the account opening process gets easier because of an existing customer referring you.
Does Debit always increase an account?
No Debit never increases an account. It decreases the amount
When posting to the general ledger is drawings always debited?
yes
How do you write a appeal letter to bank on not closing my current account due to overdrawn?
When you write a letter to your bank make sure you are honest. It is always better to tell them the reasons for having your account overdrawn.
Does closing a credit card account which was always paid on time harm your credit score?
Strangely enough, yes it does negatively but temporarily affect ones credit score.
Will lender recheck employment again before closing if they already done so at time of application?
I work at Quicken Loans and yes, we ALWAYS do a verification of employment prior to scheduling closing. The verification is done at least twice during the process.
How do you terminate my Yahoo email account?
Deleting a Gmail account is permanent. After going through the process, all of your emails and account settings will be erased. You will no longer be able to use your Gmail address to send or receive emails, and the address will not be made available for anyone else to use in the future.
Why is closing stock not written in the trial balance but always written below the trial balance?
The reason why closing stock is not taken into account in a trial balance is because a trial balance is a balance of all ledger account a given point in time.It records only transactions which have a two way effect for EG:Purchases where goods are bought against cash or credit and sales where goods are sold against cash or credit..But closing stock is not a transaction having a two way effect any given point in time.It is only an indication of the goods lying in the factory at the end of the year.It is therefore showed below the trial balance and not in the trial balance.However in order to derive at the exact gross profit the closing stock is taken into consideration in the trading account and also appears as an asset in the balancesheet.In some case the closing stock appears as an adjusted purchase account in the trial balance and in this case it does not appear in the trading account but appears only in the balance sheet. The main reason is that we do not pass any entry for consumption. Hence we donot prepare any ledger account for it.
Is it true that Habbo AU is closing down?
of course not :D its always on
What are hip cool sales team names?
always been closing
After canceling my only active credit card how soon should I apply for another credit card without damaging my credit score?
you just hurt your score a little by closing a good account, it is always best to just leave the account open and just keep a zero balance and sock draw the card.
If you write a check today when will it be charged to your account?
The speed of check-processing already has increased in response to check-system improvements other than Check 21. Thus, even now, once a check is deposited with a bank, it is almost always delivered overnight to the paying bank and debited from the checkwriter's account the next business day. Check-processing speeds should continue to increase, over time, as banks make further operational changes in response to Check 21. That means money may be deducted from your checking account faster. Before you write a check, it's always best to make sure your checking account has enough money in it to cover the check.
When is it necessary to include vendor name in an accounts payable entry in a journal?
It is good practice to always include the vendor name in the journal entries. Journal entries are the books of "origin". When transaction occur the transaction is then recorded in the journal, at a later date or time, the entries are then added to the Ledger where each account for the company has a separate account.Adding the vendor name to the journal entry can assure that the proper account is debited or credited when the entry is recorded in the ledger.
Should you capitalize love always at the end of a letter?
Yes, if it used as the closing remarks.
