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Many credit cards offer 0% on balance transfers from other accounts. Some of these credit cards include the Citi Simplicity Visa Card, Citi Diamond Preferred Card, Discover it, and Chase Freedom Visa.

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12y ago

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WHAT is normal balance of accounts payable?

credit balances


Which accounts normally have credit balances?

All liabilities as well as sales account has credit balance as normal accounting balances.


What is normal balance of liability accounts?

Liabilities are typically credit balances


What report lists accounts and their balances in which the total debit balances should equal the total credit balances?

Trial Balance


What is the normal balance of an account in the accounts payable subsidiary ledger?

Accounts receivables has debit balance as normal balance of account and shown in current assets in balance sheet.


What is a monthly trial balance?

A monthly trial balance is a listing of all the net balances (debit or credit) of all ledger accounts at the end of each month. The trial balance is said to "balance" if the sum of all the debit accounts equals the sum of all the credit accounts.


Can you do a balance transfer from someone else's credit card?

Yes, balance transfers are commonly used to move balances from a high APR to a lower rate. But the transfer will impact the credit of the cardholder receiving the balance.


What is the relationship between balance sheet and trial balance?

A balance sheet or statement of financial position is a summary of the financial balances of a sole proprietorship, a business partnership or a company. Trial balance lists the debit, credit accounts for a given ledger for a month. Trial balance is created in two columns one with all the debit balances and the other with all the credit balances. If the total of the debit column does not equal the total of the credit column then there is an error in the ledger accounts. The assets, expenses will be recorded under the debit balances. Liabilities, equity and revenue will be recorded under the credit balances.


A credit is not the normal balance for what accounts?

A credit is not the normal balance for asset accounts and expense accounts. Assets typically have a normal debit balance, meaning they increase with debits and decrease with credits. Similarly, expenses also increase with debits and decrease with credits, making credits the opposite of their normal balance. In contrast, liability and equity accounts normally have credit balances.


How can one check his credit card transfers balance?

When needing to check recent credit card transfers and balances the customers own bank offer the information by calling the bank, the customer could get a paper statement with all currant balances and transactions listed or by checking online with you bank.


Which account decreases when debit?

All those accounts decreases with debit which normal or default balances are credit for example all liabilities or incomes are decreased with debits because their default balances are credit balance.


Why may a control account carries both debit and credit balances?

A control account summarizes a set of subsidiary accounts. For example, Accounts receivable may have a control account, representing total Accounts receivable, and also may have a set of subsidiary accounts, representing the amount of Accounts receivable owed by each customer/debtor. The total of all subsidiary accounts must equal the balance of the control account. Control accounts will have debit or credit balances depending on the nature of those accounts. Control accounts for assets, such as Accounts receivable or Fixed assets, will have native debit balances. Control accounts for liabilities, such as Accounts payable, will have native credit balances.