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What else can I help you with?
What kind of investment is a savings account with an insurance company?
Insurance companies provide only life insurance facilities to its customers. They do not provide savings accounts facilities to customers. Only banks can provide saving accounts to customers and not insurance companies.
When a customers account is paid the customers account is?
"credited".
Is a high yield money market account covered by the FDIC insurance?
Yes, a high yield money market account covered by the FDIC insurance. You can read about the rules and policies at www.capitalone.com/directbanking/money-market-accounts/ -
How do you remove payment from suspense account to customers account?
payment in suspense to customers account as receivable account
What are the Marketing Functions in an Insurance Company?
To bring in new business into the company. To retain and service old account To create awareness on insurance product to prospect To educate prospect/client on the right insurance policies to be taken
How long is student travel insurance valid for?
Student travel insurance policies and rates vary by company and individual. It is suggested to contact a representative of the company or log into any online account you may have.
Can I open a bank account out of state?
Yes, you can open a bank account out of state, but some banks may have specific requirements or restrictions for out-of-state account holders. It's best to check with the bank you're interested in to see what their policies are for out-of-state customers.
What types of services do Century21 Insurance offer?
Century 21 insurance offers services in relation to automotive insurance needs in 48 states and DC. they also offer homeowner and umbrella policies as well as online account management and mobile applications.
Is prepaid insurance account a nominal account?
No, it is a real/permanent account. Insurance expense is a nominal account.
What is an 770 account?
A 770 account, often referred to as a "7702 account," is a type of life insurance policy that is designed to accumulate cash value and provide tax advantages. Under IRS Section 7702, these policies can be structured to allow for tax-free withdrawals and loans against the cash value. They are typically whole or universal life insurance policies that offer flexible premiums and death benefits. This type of account is often used as a long-term savings vehicle and for estate planning.
The entry to close the appropriate insurance account at the end of the accounting period is what?
Insurance account is expense account and expense account is closed in income summary account. Insurance account should be credited where as income summary account should be debited
What is the proper adjusting entry at April 30 the end of the fiscal year based on a prepaid insurance account balance before adjustment 16000 and unexpired amounts per analysis of policies 6000?
debit insurance expense 10000 credit prepaid insurance 10000
