What do you mean by Credit Balance?

What do you mean by Credit Balance?
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What do you mean by Credit Balance?
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Why would a transaction marked "credit" with a positive value deduct from my available balance at the bank?

Description : Why would a transaction marked "credit" with a positive value deduct from my available balance at the bank?

Last Answer : If your bank hasn’t verified the funds from the entity giving you the credit yet, they won’t make it available for you to access.

If you have a loan or credit card balance, and you pay over the minimum due, whatever you pay over goes directly to the principal, right?

Description : If you have a loan or credit card balance, and you pay over the minimum due, whatever you pay over goes directly to the principal, right?

Last Answer : answer:The longer you have the debt the more interest you pay as each month more interest is added. If you only pay the minimum you will have the debt for much longer and you will pay more interest. The ... . Even I you pay the loan of early you will stay pay the interest for the full loan period.

Does paying off a settlement on your credit card balance harm your credit rating?

Description : Does paying off a settlement on your credit card balance harm your credit rating?

Last Answer : No

PayPal question: When buying something, how can I choose to use a credit card as opposed to my PayPal balance?

Description : PayPal question: When buying something, how can I choose to use a credit card as opposed to my PayPal balance?

Last Answer : Isn’t there an option to choose card? I swear from memory theres a link you can click to choose alternative payment!

How long should I wait to pay the balance on my credit card?

Description : How long should I wait to pay the balance on my credit card?

Last Answer : Your friend is wrong in just about every way a person could be wrong about this topic. Pay it off immediately.

If the trial balance shows a short credit the suspense account will have a _______ balance. 

Description : If the trial balance shows a short credit the suspense account will have a _______ balance. 

Last Answer : If the trial balance shows a short credit the suspense account will have a _______ balance. (a) debit (b) zero (c) credit (d) nil

Credit balance in the Pass Book represents _____________ 

Description : Credit balance in the Pass Book represents _____________ 

Last Answer : Credit balance in the Pass Book represents _____________ (a) overdraft (b) bank balance (c) loan borrowed (d) negative

What does the credit balance of Cash Book indicate?

Description : What does the credit balance of Cash Book indicate?

Last Answer : What does the credit balance of Cash Book indicate?

A Debtors A/c always show a credit balance.

Description : A Debtors A/c always show a credit balance.

Last Answer : State whether the following statement are ‘True or False’ with reason : A Debtors A/c always show a credit balance.

When the total of debit side of an account exceeds credit side, it is called __________ balance. 

Description : When the total of debit side of an account exceeds credit side, it is called __________ balance. 

Last Answer : When the total of debit side of an account exceeds credit side, it is called __________ balance. (a) Debit (b) Credit (c) Nil (d) Real

Excess of debit total of an account over it’s credit total indicates _____________ balance. 

Description : Excess of debit total of an account over it’s credit total indicates _____________ balance. 

Last Answer : Excess of debit total of an account over it’s credit total indicates _____________ balance. (a) Negative (b) Positive (c) Debit (d) Credit

(i) A bound book of Account. (ii) The credit balance of the Bank Account.

Description : (i) A bound book of Account. (ii) The credit balance of the Bank Account.

Last Answer : Write the word, term, phrase, which can substitute each of the statement : (i) A bound book of Account ... . (v) The right-hand side of an account.

Is the AR on balance sheet credit or debit account?

Description : Is the AR on balance sheet credit or debit account?

Last Answer : Feel Free to Answer

Which would be better to do, pay of a closed credit card that is at a good rate or pay off the open credit card that has a much higher interest rate Both cards have a large balance.?

Description : Which would be better to do, pay of a closed credit card that is at a good rate or pay off the open credit card that has a much higher interest rate Both cards have a large balance.?

Last Answer : It is better to pay off the open card that has the higher interest rate.

I had filed for bankruptcy 2yrs ago and it was dismissed. I have a zero balance on a auto loan that shows on my credit report. Do I still have to make my car payments?

Description : I had filed for bankruptcy 2yrs ago and it was dismissed. I have a zero balance on a auto loan that shows on my credit report. Do I still have to make my car payments?

Last Answer : If you reaffirmed your car loan during your bankruptcy, you agreed to continue making the payments. If you included your car in the bankruptcy, then the loan was wiped clean, as it appears to have ... the lawyer who handled your bankruptcy, but my guess is that your car slipped through the cracks.

If you have a credit card with a balance of 754.43 at a 13.6 APR. If you have 300.00 available each month to save or pay down your debts. a. How many months will it take to pay off the credit card if?

Description : If you have a credit card with a balance of 754.43 at a 13.6 APR. If you have 300.00 available each month to save or pay down your debts. a. How many months will it take to pay off the credit card if?

Last Answer : It will be paid off after 4 months of payments. In total you will pay $1,056.53, which is $302.10 in interest. Remember kids, use your credit wisely.

How does credit card balance transfer in an office work?

Description : How does credit card balance transfer in an office work?

Last Answer : Credit card balance transfers are essentially when a credit card holder starts a new credit card to pay off whatever debts and charges the owner may have on the old credit card. The charges from ... if the person makes sure to read the details the new credit card company has regarding the transfer.

How do I transfer the balance on my credit cards?

Description : How do I transfer the balance on my credit cards?

Last Answer : You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.

Is there an online site that I can do a comparison of balance transfer offers amongst a variety of credit cards?

Description : Is there an online site that I can do a comparison of balance transfer offers amongst a variety of credit cards?

Last Answer : Yes, you can find online sites that list credit card offering balance transfer. The following is one such site. http://www.creditcardcompare.com.au/balance-transfer-credit-cards.php

Government grants related to income as per the Accounting Standard (AS)-12 should be– (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset side of the balance sheet (C) Presented as a capital grant on the liability side of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet

Description : Government grants related to income as per the Accounting Standard (AS)-12 should be- (A) Presented as a credit in the statement of Profit and Loss (B) Presented as a deferred income on the asset ... of balance sheet (D) Presented both in the Profit and Loss statement and in the balance sheet

Last Answer : Answer: Presented both in the Profit and Loss statement and in the balance sheet

The Freight-in account a. increases the cost of merchandise purchased. b. is contra to the Purchases account. c. is a permanent account. d. has a normal credit balance

Description : The Freight-in account a. increases the cost of merchandise purchased. b. is contra to the Purchases account. c. is a permanent account. d. has a normal credit balance

Last Answer : a. increases the cost of merchandise purchased.

Which of the following accounts has a normal credit balance? a. Sales Returns and Allowances b. Sales Discounts c. Sales d. Selling Expense

Description : Which of the following accounts has a normal credit balance? a. Sales Returns and Allowances b. Sales Discounts c. Sales d. Selling Expense

Last Answer : c. Sales

ncome Summary has a credit balance of $12,000 in J. Sawyer Co. after closing revenues and expenses. The entry to close Income Summary is a. credit Income Summary $12,000, debit Retained Earnings $12,000. b. credit Income Summary $12,000, debit Dividends $12,000. c. debit Income Summary $12,000, credit Dividends $12,000. d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Description : ncome Summary has a credit balance of $12,000 in J. Sawyer Co. after closing revenues and expenses. The entry to close Income Summary is a. credit Income Summary $12,000, debit Retained Earnings ... 000, credit Dividends $12,000. d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Last Answer : d. debit Income Summary $12,000, credit Retained Earnings $12,000.

Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The correcting entry is a. debit Cash, $940; credit Accounts Receivable, $940. b. debit Cash, $450 and Accounts Receivable, $490; credit Service Revenue, $940. c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Description : Speedy Bike Company received a $940 check from a customer for the balance due. The transaction was erroneously recorded as a debit to Cash $490 and a credit to Service Revenue $490. The ... Receivable, $940. d. debit Accounts Receivable, $940; credit Cash, $450 and Service Revenue, $490.

Last Answer : c. debit Cash, $450 and Service Revenue, $490; credit Accounts Receivable, $940.

If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit to the owner’s dividends account. c. credit to the retained earnings account. d. credit to the owner’s dividends account.

Description : If Income Summary has a credit balance after revenues and expenses have been closed into it, the closing entry for Income Summary will include a a. debit to the retained earnings account. b. debit ... . c. credit to the retained earnings account. d. credit to the owner's dividends account.

Last Answer : c. credit to the retained earnings account.

Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c

Description : Premium received on issue of shares is shown on-----------. A. asset side of the balance sheet B. liability side of the balance sheet C. credit side of the P&L a/c. D. debit side of the P & L a/c

Last Answer : B. liability side of the balance sheet