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What else can I help you with?
Which of these can occur when a person owes more money than he or she earn or pay to creditors?
bankruptcy
What happens when you over pay on a credit card?
When you over pay a credit card, you have then a "credit balance." This means, in essense, the credit card company owes you money. You can either have them send you a check to pay off the difference, or the credit balance will be eliminated when/if you use your card again.
What is the difference between a bond and a stock?
When you buy either bonds or stock, you pay money now with the possibility of getting more money later. But a bond represents a debt--the company that issued the bond owes you money to be paid when the bond is redeemed. A stock represents ownership. As a stockholder, you become a part owner of the company.
What does the word debtor mean?
A debtor is a person, company, or entity that owes money to another party, known as the creditor.
What term describes any company or person who owes money to the business?
The term that describes any company or person who owes money to a business is "debtor." Debtors may include individuals, businesses, or entities that have received goods, services, or money from the business but have not yet paid for them. In accounting, these amounts are typically recorded as accounts receivable on the company's balance sheet.
Person who owes money?
A person who owes money is a debtor. To owe money means that you must pay someone else.
Who to contact about money owed you from your pension money that was owed you?
The company that owes you the money.
Is meant when it is said that a company is operating in the black?
In accounting, positive numbers are written in black. Red is for negative numbers--money that the company owes but cannot pay. So, if a company is operating in the black, it means its cash flow is positive and that it can pay its bills.
If the owner financier a person not a company holds the mortgage note and he files bankruptcy how does this affect the buyer of the property?
The buyer still owes the money and must pay the debt.
What is the appropriate classification of customers accounts with credit balances in a balance sheet?
If a customers account has a "credit" balance, this means the company owes that customer rather than the customer owing the company. Customer accounts tend to have a debit balance, meaning the customer owes the company that amount. It is rare when a company owes a customer, if this does happen, the account becomes a liability instead of an asset because of the fact that now the company owes money rather than is "owed" money.
Which of these can occur when a person owes more money than he or she can earn or pay to creditors?
Bankruptcy.
Which of these can occur when a person owes more money than he or she earn or pay to creditors?
bankruptcy
Which can occur when a person owes more money than he or she can earn or pay to creditors?
bankruptcy
Can a company file a mechanics lien against your property if the builder of your barn owes them money?
Yes, a company can file a mechanics lien against property if the builder of the barn owes them money. This can be a nightmare. To get rid of the lien, a property owner might have to pay the lien holder and then sue the builder for return of funds. This tactic is not fair to the property owner because, if the builder was already paid for the barn, the property owner now has to pay double.
Does accounts receivables show how much money is owed to the company?
That is correct. If someone owes me money, then that is money that I am going to receive, if the loan is paid, hence that account can be classified as accounts receivable. If there is money that I owe, which I therefore intend to pay, then that is classified as accounts payable.
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.
What happens when a person owes more money then he can pay to creditors?
If a consumer owes money, they should always make some payment, however small and as much as they can. Never pay nothing. The more you pay the less interest you will pay in the long run. Do not have the attitude that the balance is wrong so I won't pay anything. If you owe money you will be charged interest every day until the debt is settled in full.
