answersLogoWhite

0

As an expense, loan interest should be placed in the debit side of the Profit & Loss A/c and not in the Trading a/c.

User Avatar

Wiki User

9y ago

What else can I help you with?

Continue Learning about Finance

Where is the best place to find a high interest savings account?

There are very few banks with high interest savings account. At best you can get an account with abotu 1% to 2% interest. Ally bank offers accounts and CDs with these rates and at times have specials for 5% lock in rates.


What is a good reason to place your money into a savings account?

A good reason to place your money into a savings account is to earn interest on your savings, which can help your money grow over time and provide a financial safety net for unexpected expenses or future goals.


Where can one find Forex Trading software?

If you are looking low trading fee and beginner-friendly interface trading software, I suggest signing up on Bityard. Easy to deposit and withdraw. With Copy-Trading features that lets you copy the trading position of top traders with No fee. Try to learn first by practicing in a demo account. Bityard is an exchange and trading platform that gives you 100,000 USDT to hone your skills in Forex, Crypto Trading, and Derivatives. User-friendly interface and easy to follow. It also has a mining feature that lets you mine crypto while practicing trading in a demo account. Sign up on link below to start positioninng in your demo account.


Is Market Trading Institute the best place to learn about Forex?

As a former student I would suggest that you spend your money elsewhere. This is an over priced Forex "marketing" company. You can learn about what they teach by reading a book or going to a quality trading website and use the money they would like you to spend in your trading account.


How can I buy stocks on Schwab?

To buy stocks on Schwab, you need to open a brokerage account with Charles Schwab, deposit funds into the account, research and select the stocks you want to buy, and then place an order through the Schwab trading platform.

Related Questions

Is bad debt reported on the income statement as a contra revenue account?

It depends on when the Accounting period too place. From2011 onward, it was reported as an Expense. Starting in 2012, bad debt expense is reported as a contra Revenue account.


Ryan wants to place 700 into a savings account for five years He wants to deposit 400 at 4.0 percent interest and the rest in another account at 6.5 percent interest What would his amount of interest?

177.50


What is personal account dealing?

Personal account dealing refers to the trading of financial instruments, such as stocks or bonds, by individuals or employees of a financial institution for their personal investment accounts. It often raises concerns about potential conflicts of interest, especially if the individual has access to non-public information that could influence their trading decisions. Many firms have specific policies and regulations in place to govern personal account dealing and ensure transparency and compliance with legal standards.


Where is the best place to find a high interest savings account?

There are very few banks with high interest savings account. At best you can get an account with abotu 1% to 2% interest. Ally bank offers accounts and CDs with these rates and at times have specials for 5% lock in rates.


Can I get an online trading account for trading stocks?

If a person is wanting to trade in stocks, and do so online, there are a few places they may wish to set up an account with. Ameritrade is just one place a person may trade online. ETrade is another company which offers online trading. An individual may set up an account with either service.


How can someone open up commodities trading account?

One can open up commodities trading accounts through a brokerage firm. It may cost per trade however it will be safe to keep all commodities in one place, one account.


How long do you have to wait before you can trade on Habbo?

In Habbo, new users typically need to wait 24 hours after creating their account before they can start trading. This waiting period is in place to prevent abuse and ensure a safe trading environment. Additionally, users must also have a verified account to access trading features.


What is the average interest for a checking account?

The average interest for a checking account is 0.3%. One can check the following places for more information: My Bank Tracker, Market Place, Bank Rate, Go Banking Rates and many more.


How much is an account at beneficial savings bank?

To have an account at Beneficial Mutual Savings Bank you need to deposit at least$50. The interest is compounded daily. It has the best rates also. Good place to have an account.


What is the steps for online trading?

Online Trading stocks seem to be an easy way to make money. Extensive knowledge gained through online trading education is the only way to learn to make the right decisions and exit at the right time. I am new in trading and collecting tips by following articles of Traders Exclusive. I hope it will help you.


Where can I get the highest interest rate on a savings account in the Elgin, Il area?

www.elginbankingrates.com is a good place to look for current rates


Where does one find the best interest rate for a banks saving account?

The best place on the internet to find the best interest rates for a bank savings account would be Money Supermarket. One can check all the savings rates and accounts in the United Kingdom.