Current account benefits for the account holder and borrowers

Q: List and explain the differences between a self managed credit plan and a contracted credit plan.

A: A credit is a type of loan taken by individuals or corporations in which the borrowers borrow an…

Q: Interest earned is a [A] personal account [B] real account [C] nominal account [D] Intangible real…

A: Real account: A real account is used to record material assets of a business. Nominal Account: A…

Q: The entry to record interest expense on a bank loan payable is a   a. debit to interest expense and…

A: The adjustment entries are made at the end of the year to adjust the revenues and expenses of the…

Q: What type of function models a savings account

A: The saving accounts contain compound interest charge on their balances which indicates the…

Q: Is granting credit to customers good? And as a future business owner how would you handle or manage…

A: Explanation to Credit When products are sold to customers on credit and customers agree to pay the…

Q: pre-approved amount of open-end credit, based on a borrower's ability to pay, is called a(n) _____.…

A: There are different types of credit available in the market and it all depends on the agreement…

Q: “Credit card” (with an outstanding balance) would be which type of account? a.Proprietary…

A: Introduction: Credit card is a source of short term financing which is unsecured in nature. As these…

Q: referred as the borrowed money from a bank or other lending institutions/persons that can be used…

A:

Q: what are the creditor days

A:

Q: 3. Which one of the following could not be called income? A. An allowance B. A paycheck C. Interest…

A: An income is the amount of money or cash inflows that are received by an individual or a business in…

Q: what is accounts payable?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Determine if asset, liability, cash inflow or outflow: *weekly paycheck *alimony from your ex

A: Solution:- Asset means something that an individual owns and holds and also gets benefit from it in…

Q: Which of the following accounts is a temporary account? Multiple Choice Accounts receivable.…

A: Temporary accounts are written off in the income statement and not visible in the balance sheet.…

Q: Calculate Net interest Income Non-interest income Non-interest expenses

A: Given a  statement of the balance of a bank and we need to find out the interest income noninterest…

Q: When selecting a financial institution, you should consider: (select all that apply) fees for…

A: Financial institutions are the entities providing financial services in the nature of accepting…

Q: how do you do paycheck calculations

A: Paycheck means the payment of the salary or wage to employee. A paycheck is a traditional document…

Q: Define the position of a net creditor

A: After reconciling all of the financial transactions conducted between it and the rest of the world,…

Q: Explain how the following financial products accommodate financial life cycle: a) insurance products…

A: Financial life cycle is a life cycle of an individual where an individual needs to accumulate,…

Q: Debit the receiver, credit the giver is rule for [A] personal account [B] tangible real account [C]…

A: Journal entries are the transactions that are recorded in the primary book. They are chronological…

Q: What is an account receivable? O a. Sales O b. Asset O c. Income O d. Creditors

A: Following is the answer to the given question

Q: The journal entry to record the sale of services on credit should include:(a) Debit to debtors and…

A: A journal entry is used to record day-to-day transactions of the business by debiting and crediting…

Q: Describe how debits and credits affect temporary owners’ equity accounts.

A: Accounting follows the double-entry bookkeeping system. The basic rules of double-entry bookkeeping…

Q: A knowledgeable investor tries to asses -earnings quality -accounts receivable a -accounts payable…

A: Investor is the person who invests in some property or asset.

Q: debit interest payable, credit cash debit loans payable, credit accounts payable debit cash, credit…

A: Journal book is the book in which the company will record the transactions in a chronological…

Q: 1) What is the difference between Interest Receivables and Account Receivables and Interest…

A:

Q: How is the account Accounts Payable classified and what kind of balance should it have? Group of…

A: Accounts payable is the term for current liabilities in regard to purchases made on credit. Such…

Q: Question 11 A statement listing customers, account balances, and total amount due from all customers…

A: Accounts payable ledger - It is an account which contain the details of all invoices received from…

Q: What increases your credit score

A: Credit scores are given by banks to customers.Credit scores are very important to get credit from…

Q: Interest received in advance account is a   a. Nominal Account   b Real Account   C.Artificial…

A: As per the double-entry bookkeeping method, there have been three sorts of accounts which assist…

Q: notes payable and interest expense.?

A: The Role of accounting is to provide information to investors, creditors, management and…

Q: Question 1: What should an employer use to complete Form W-3? Answer: A. O Employee earnings records…

A: "Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: ovide example of accounting treatment for transactions related to loan in two situations as…

A: Loan : It is the amount which is borrowed by the individual to fulfil his/her needs. When amount…

Q: Which among the following is an example of a personal financial statement? Select one: O a.…

A: Personal financing is the study of financial management at individual level

Q: A promise to pay an amount on a specific future date plus interest is recorded in which account?…

A: Accounting is a term used to describe a wide range of activities. It may be defined as the process…

Q: What kinds  of fees and penalties can be levied on savings accounts?

A: Bank: It is a financial institution that accept deposits from and provide loan to public. This…

Q: discuss the process of applying for a business loan.

A: A business loan is a loan that is intended primarily for business purposes. It includes the…

Q: Differentiate savings account from a current or checking account.

A: A bank is an institution that deals with money and credit. It accepts deposits from the public,…

Q: 18. Which of the following would be found on a consumer's credit report? A. a savings account…

A: In the given question we are given 4 options regarding credit report and we need to choose the best…

Q: What is the current year's accounts payable balance

A: Accounts payable are those people to whom company owed money. They are recorded as current liability…

Q: Write a detailed note on Account for notes payable and interest expense.

A: A note payable is a written promissory note. Under this agreement, a borrower obtains a specific…

Q: 1) What would be the gross profit margin and net profit margin? 2) what is the relevance of…

A: The gross profit margin estimates the financial stability of the company.it is the balance left…

Q: Which of the following account is debited when account payable is converted into note payable?…

A: Liabilities have a credit balance, So when liabilities converted then they should be debited.

Q: w do account holders

A: Home loans : A house loan is a sum of money borrowed from a bank or money lending firm at a fixed…

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.