0
Any credit is an increase to an account. A debit is a decrease to the account.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Can a credit card company allow a charge on an inactive credit card?
Sure they can. Inactive means it hasn't been used for a while, but it is still a valid account.
What does this means someone account has been deactivated?
It meanS you deactivated it that you deleted your account your accounts been deleted or temporarily un available
What is an open account listed on a credit report?
Open Account - account listed as "open" on your credit report are accounts that are open, includes all accounts that have been reported within the last 90 days.
How do you bounced checks affect your credit score?
A bounced cheque would affect your credit score in a negative way. A Bounced cheque means you have been delinquent in your payments and credit agencies may have this affect your credit score badly. A low credit score means, lesser credit eligibility and lesser financing options. So be careful while writing cheques. Ensure that you have enough funds in your account before you write any...
How long does a paid credit card account that has been closed stay on your credit report?
Forever, since it looks good on your report.
What does settled mean on your credit report?
A credit report will show that an account is either active or settled. If the account is settled, it means that it has been paid and is closed.
What does reversal credit mean?
A credit means a money has been deposited to the account. Suppose Cr of 100 means rs 100 is credited to the account. A reversal of credit is usually denoted by a negative sign meaning its reversal credit so now it is Cr -100 which is actually a debit has been happening for rs 100 and it would be debited from the account .
What is cr on a hsbc statement?
"CR" on an HSBC statement typically stands for "credit," indicating that a certain amount has been added to your account as a credit or positive balance. This shows money that has been received or deposited into your account.
What is the medical meaning for an credit adjustment?
A credit adjustment reduces the patient's account balance. Which means money that the patient had paid and has been acredited to their balance.
What does cr on my bank statement mean?
"CR" on your bank statement typically stands for "credit." This means that a credit transaction, such as a refund or deposit, has been made to your account.
Can a credit card company allow a charge on an inactive credit card?
Sure they can. Inactive means it hasn't been used for a while, but it is still a valid account.
Is it true that in recording the adjusting entry for accrued taxes both accounts involved are increased?
No, in recording the adjusting entry for accrued taxes, one account is increased while the other account is increased. The accrued taxes payable account is increased to record the liability for the taxes that has been earned but not yet paid, and an expense account (such as taxes expense) is also increased to reflect the amount of taxes that has been incurred.
What does CR mean on a bank statement?
CR means a credit has been applied to your account (ie, money returned to you). Credits are expenses for the banks, so they are tallied as expenses on their financial documents.
What does dda credit mean?
It Means That You Account Has Been In Overdaft For So Long That The Bank Has Written It Off So There For You Dont Owe Any Money
What does it mean on your credit report that says updated?
The/Your account is legitimate. Whatever has been reported to the credit bureau's it has been verified as valid.
If you were overdrawn for two weeks and your direct deposit goes straight to this account and now you learned that your account has been charged off what exactly does that mean?
it means that your account is no longer over due its 90 days past due in which usually it goes to charge off status on your credit report which will tell who ever is looking at your credit report that you chose not to pay the bill that's what it means
Accrued expenses are expenses that have been paid but not incurred?
Accrued expenses are paid after being put on the company's financial books. Every entry that is adjusted for accrued expenses is listed as a debit on an expense account, increased expenses on an income statement, net income reduction, credit on a payable account, and increased liability on the company's balance sheet.
