Thursday, December 15, 2011
How would having your cash balance in a current account affect the performance of a firm?
good for cashflow as you can draw your cash out when required but you would recieve less interest as oposed to a deposit account which would have a higher interest rate but probably require you to give notice whenever you want to make a withdrawal. not all your cash will be profit though as you will have liabilities, reserves and maybe dividends to pay from your cash balance. This is where careful cashflow management helps as if you get it right you can avoid taking out overdrafts etc to finance your cashflow requirements, saving the firm money. You also need to make sure that you have a good balance between what is tied up in assets and ready cash. if the assets arent working for the business it maybe better to liquidate them so you save on overdraft costs etc.
What is the current balance on your credit card(s)?
just curious|||$1300 - Balance transfer at 0% interest, no purchases.
$0 on the rest|||i actually jut checked, i have one that has all the credit avaiable and another that i owe 41.41, my husband in teh other hand has 3 and they are all packed up!!!|||Z.E.R.O and I keep it that way!|||I don't have any credit cards!!|||Show me yours and I'll show you mine.|||about $150 on my mbna and $1500 on my Lowe's
Why, what is yours?|||About $650, but I'll pay it off when the statement comes. Avoid paying credit card interest unless it's an emergency, then pay it off ASAP.|||my current c/c balance is ( - $32.00 ).
how that sound 2 u ?
$0 on the rest|||i actually jut checked, i have one that has all the credit avaiable and another that i owe 41.41, my husband in teh other hand has 3 and they are all packed up!!!|||Z.E.R.O and I keep it that way!|||I don't have any credit cards!!|||Show me yours and I'll show you mine.|||about $150 on my mbna and $1500 on my Lowe's
Why, what is yours?|||About $650, but I'll pay it off when the statement comes. Avoid paying credit card interest unless it's an emergency, then pay it off ASAP.|||my current c/c balance is ( - $32.00 ).
how that sound 2 u ?
How can I get balance transfer offers on my current credit cards?
I have several cards with larger balances and I would like to transfer balances but many of them aren't offering balance transfer. Anyway to get the banks to give me some good offers?|||You can call your current issuers and ask about balance transfer deals...or you can go to their individual websites and click on the "balance transfer offers" tab...many offer this, including Chase, Discover, Capital One, American Express, Citi, etc...
Just note that you can't transfer a balance within the same company, e.g. you can't balance transfer a Citi credit card balance with a Citi balance transfer.|||No way to "make" banks do anything.
Just note that you can't transfer a balance within the same company, e.g. you can't balance transfer a Citi credit card balance with a Citi balance transfer.|||No way to "make" banks do anything.
Available Balance and Current Balance?
I just recently opened up an account with PNC. I have never seen this available balance and current balance before. I cashed my check yesterday, and today it shows me a Avaliable Balance of 75.79 and a Current Balance of 327.79; I haven't used my debit card so what is my actual balance?|||Always go by your available balance so you don't accidentally overdraw your account. Typically the difference is due to a deposit you have made for example if your available balance is $75 but you deposit a check for $25 then your ledger balance would show $100 and there will be a difference in your balance until the funds are made available. Hope this helps!|||These are for bank a/c procedure,available balance is your balance in your accout.
Is there a bank that will notify you, via SMS, your current account balance after a debit/credit purchase?
A guy from Norway showed me on his phone and it was fast and convenient!|||I have no idea|||my mother has an account with netspend and they send her messages with her balance through text message right after she uses her card. it comes instantly|||Commerce bank. Don't know if you live in their area
https://www.commercebank.com/default.asp
https://www.commercebank.com/default.asp
On a credit card statement, does your current balance mean what you owe?
It means that is the total up until the closing date on the statement. Any charges after that date will not show.
What does current balance less expected aid mean?
and then it says $1048.00|||"Current balance less expected aid" means that's what you owe (the balance) after the financial aid they anticipate will be applied to your account at some date.
Therefore, you owe $1,048 according to aid estimates.
Therefore, you owe $1,048 according to aid estimates.
Using the unpaid balance method, find the current month's finanace charge on a credit card account having the?
Using the unpaid balance method, find the current month's finance charge on a credit card account having the following transactions:
Last months balance: $875
Last payment: $50
Annual Interest rate: 21%
Purchases: $253
Returns: $932
What's the finance charge?|||That depends, if you did cash advances on you card or not, as they earn interest from the date they are done until they are paid in full. You shouldnt see anything as you credit was more that your previous months balance, so it has been paid in full.
Credit card companies cannot charge interest on new purchases, so they are still interest free as long as you pay next months balance in full.
If you do carry a balance then you interest ammount will fluctuate. Lets say your cut off is the 10th of each month, and you start off with a balance showing of 1000.00, then you are charged interest from the 10th of the month untill you mak a payment, so on the 25th you make a payment of 500.00, as of that date you are now paying interest on the amount left owing, 500.00 till the next statement print date.
1000.00 from the 10th to the 25th = 15 days of interest on that amount
500.00 from the 25th until the 10th of the next month= 15 days on 500.00 assuming the month has 30 days.
last months balance875-payment50=825
remaining balance825-credit 932= -107 +
credit balance-107+new purchases=146
As long as you pay the new balance of 146 by the due date you should see no interest.
This may help as well to calculate interest
take the principal times the interest rate divide by 365 and times for the number of day from posting to billing.
1000 X 19.99% / 365 X 30days = 16.43 interest each month
Last months balance: $875
Last payment: $50
Annual Interest rate: 21%
Purchases: $253
Returns: $932
What's the finance charge?|||That depends, if you did cash advances on you card or not, as they earn interest from the date they are done until they are paid in full. You shouldnt see anything as you credit was more that your previous months balance, so it has been paid in full.
Credit card companies cannot charge interest on new purchases, so they are still interest free as long as you pay next months balance in full.
If you do carry a balance then you interest ammount will fluctuate. Lets say your cut off is the 10th of each month, and you start off with a balance showing of 1000.00, then you are charged interest from the 10th of the month untill you mak a payment, so on the 25th you make a payment of 500.00, as of that date you are now paying interest on the amount left owing, 500.00 till the next statement print date.
1000.00 from the 10th to the 25th = 15 days of interest on that amount
500.00 from the 25th until the 10th of the next month= 15 days on 500.00 assuming the month has 30 days.
last months balance875-payment50=825
remaining balance825-credit 932= -107 +
credit balance-107+new purchases=146
As long as you pay the new balance of 146 by the due date you should see no interest.
This may help as well to calculate interest
take the principal times the interest rate divide by 365 and times for the number of day from posting to billing.
1000 X 19.99% / 365 X 30days = 16.43 interest each month
How can i recognize the current liability and current assets on Balance sheet of a Bank?
"Current" means assets that turn into cash or liabilities that come due within one year. The current section for each tends to be the first things listed under each section, with long term listed after.
What is the calculation for the balance of payments current account?
The balance of payments is simply exports minus imports.
When you have a surplus, the country exports more than it imports. EG Japan
When you have a deficit, the country imports more than it exports. EG USA|||The current account in the balance of payments measures the perfomance of a country in international trade by measuring the value of money paid for its imports and the value of money received through exports. It also includes the income received by people temporarily working overseas, flows of money in and out of the country for interest payments, profits and dividends as well as Central Government payments overseas such as foreign aid and contributions to the EU (known as current transfers)
So, basically the balance on current account can be calculated by this equation = balance on visible trade + balance on invisible trade + income + current transfers.
*Visible trade is the trade in goods which can be seen like oil/machinery..
*Invisible trade is the trade in services like banking and tourism
*The balance on these trades is the difference between the exports and imports.
Disadvantages of a current account surplus
- This means that exports are exceeding imports which suggests that the value of the pound might be too low as the demand for exports is high. If the value of the pound is low, it could cause imported inflation as imports will appear more expensive, even if their prices are not increasing.
- Exports are injections into the circular flow of income so this will increase the amount of money in an economy. This might result in aggregate demand shifting to the right which will lead to demand-pull inflation if producers cannot increase their production at the same rate.
- This might lead to a misallocation of resources as too much might be allocated for exports resulting in less available for the domestic market.
Hope that helped :)
When you have a surplus, the country exports more than it imports. EG Japan
When you have a deficit, the country imports more than it exports. EG USA|||The current account in the balance of payments measures the perfomance of a country in international trade by measuring the value of money paid for its imports and the value of money received through exports. It also includes the income received by people temporarily working overseas, flows of money in and out of the country for interest payments, profits and dividends as well as Central Government payments overseas such as foreign aid and contributions to the EU (known as current transfers)
So, basically the balance on current account can be calculated by this equation = balance on visible trade + balance on invisible trade + income + current transfers.
*Visible trade is the trade in goods which can be seen like oil/machinery..
*Invisible trade is the trade in services like banking and tourism
*The balance on these trades is the difference between the exports and imports.
Disadvantages of a current account surplus
- This means that exports are exceeding imports which suggests that the value of the pound might be too low as the demand for exports is high. If the value of the pound is low, it could cause imported inflation as imports will appear more expensive, even if their prices are not increasing.
- Exports are injections into the circular flow of income so this will increase the amount of money in an economy. This might result in aggregate demand shifting to the right which will lead to demand-pull inflation if producers cannot increase their production at the same rate.
- This might lead to a misallocation of resources as too much might be allocated for exports resulting in less available for the domestic market.
Hope that helped :)
Current Long Term Debt on the Balance Sheet?
On the balance sheet, I want to say that this is a current liability.
Is this correct? If not, where would it go-under Long Term Liabilities?
Thank you so much!|||Your instinct is correct. The amount of the long-term liability that is due within the next year should be classified as a current liability. You can call it "current portion of long-term debt." The remainder of the liability after subtracting the current portion would be classified as long-term debt.
Is this correct? If not, where would it go-under Long Term Liabilities?
Thank you so much!|||Your instinct is correct. The amount of the long-term liability that is due within the next year should be classified as a current liability. You can call it "current portion of long-term debt." The remainder of the liability after subtracting the current portion would be classified as long-term debt.
Available balance and current balance - I'm confused?
Yesterday when I checked my account, it told me my current balance was 拢8.07 and my available balance was 拢107.07. I always thought my current balance was supposed to be bigger than my available balance. Could somebody explain this to me.|||You are correct, unless you have an overdraft facility. Then the extra 拢99 would make sense. Other than that, it's probably a glitch in the system.|||It sounds like you have overdraw coverage. Like you actually have 8.07 but they'll cover you up to 107.07. Which is 99.00 pounds over what you have. I'd ask the bank about that myself. It seems nowadays they're always try to stick it to you with charges for this and that. Good luck.
What is your current checking and savings balance?
Hi
everyone i was just wondering how much do everyday people really save, i make 30k a year entry level job and my current savings is $5300.00 and checking is $89.00 so i was wondering how much other people have saved. thank you for ur answers! :)|||checking 2,000
savings 2,100
i make 60,000 a year|||Well aren't you just SPECIAL!
Savings - about $3 and some change
Checking - $244
My husband makes about $21-23,000 a year as a temp and rarely do we spend it on things for ourselves...We can't save any because we have BILLS to pay. It seems you don't have that much in the way of bills if you're able to purchase designer bags and wallets. And for making only $30,000 a year...the only bills you probably have to pay for are rent and car insurance.
Also I don't work because of medical reasons.|||"where are ur manners are u just stupid?" is not "fussing"???
Anyway, my checking and savings balance is nunya.|||Most of society could consider this subject an entirely private matter. Unless ur are as IRS REP. where are ur manners are u just stupid? ? Or do u need a loan. This is not appropriate to ask in person on cyberspace--maybe ur doing well and want someone to appreciate ur savvy in handling ur finances and dI do applaud u for ahving a savings but get real, sweetie, this is not appproiate to ask as u will jsut get a bunch of lies telling u how much more they have and it's dangerous cause someone might alk u into some kind of fraudualant endeavors or relationship. Just caring like a mama would--ok? not fussing
everyone i was just wondering how much do everyday people really save, i make 30k a year entry level job and my current savings is $5300.00 and checking is $89.00 so i was wondering how much other people have saved. thank you for ur answers! :)|||checking 2,000
savings 2,100
i make 60,000 a year|||Well aren't you just SPECIAL!
Savings - about $3 and some change
Checking - $244
My husband makes about $21-23,000 a year as a temp and rarely do we spend it on things for ourselves...We can't save any because we have BILLS to pay. It seems you don't have that much in the way of bills if you're able to purchase designer bags and wallets. And for making only $30,000 a year...the only bills you probably have to pay for are rent and car insurance.
Also I don't work because of medical reasons.|||"where are ur manners are u just stupid?" is not "fussing"???
Anyway, my checking and savings balance is nunya.|||Most of society could consider this subject an entirely private matter. Unless ur are as IRS REP. where are ur manners are u just stupid? ? Or do u need a loan. This is not appropriate to ask in person on cyberspace--maybe ur doing well and want someone to appreciate ur savvy in handling ur finances and dI do applaud u for ahving a savings but get real, sweetie, this is not appproiate to ask as u will jsut get a bunch of lies telling u how much more they have and it's dangerous cause someone might alk u into some kind of fraudualant endeavors or relationship. Just caring like a mama would--ok? not fussing
When calculating daily interest, do you divide the current balance or the money owed?
current balence!!!|||If you owe 100,000 for example and pay 10% annual interest than that would be 8,33 a month or about 28 bucks a day.
If my statement from Capital One was $100, but my current balance is $200. Will I get charged interest?
I went online and it says I can pay the minimum payment of $10, statement balance, or current balance. Will I get charged interest if I pay the statement balance on the remaining balance since my current balance is more than my statement balance?|||i have no idea:)
How can i be charged an overdraft, twice. when my balance never left current?
my checking account balance from $250, i took out $91. and next thing i see are 2 $36 overdraft charges. and then a purchase and another purchase. following 6-7 more small purchases.... the balance is now $4. how the hell, is it overdrawn?
does this even make sense? i havent deposited anything since the overdraft charges [as i just found out about them, now] so how is my balance not negative?
it cant be overdrawn..|||Call and ask.
Mistakes happen. As does miscommunication.|||Now aday, you have thease
jerks in accounting who don't
give a f*** about anyone, all
they care about is getting
thier work done asap so they
can leave the office. Just call
the bank and have them go over
the recent checks with you, set up
an appointment and go to the bank
to do this, don't try to settle it over the
phone, as they are trying to get
you off of the line asap, they
will be making reduculous
excuses to you and trying to confuse
you because they don't want to
admint they screwed up.
does this even make sense? i havent deposited anything since the overdraft charges [as i just found out about them, now] so how is my balance not negative?
it cant be overdrawn..|||Call and ask.
Mistakes happen. As does miscommunication.|||Now aday, you have thease
jerks in accounting who don't
give a f*** about anyone, all
they care about is getting
thier work done asap so they
can leave the office. Just call
the bank and have them go over
the recent checks with you, set up
an appointment and go to the bank
to do this, don't try to settle it over the
phone, as they are trying to get
you off of the line asap, they
will be making reduculous
excuses to you and trying to confuse
you because they don't want to
admint they screwed up.
Is the retained earnings in the balance sheet classified as current or noncurrent?
I know assets and liabilities can be classified as current or noncurrent. Can stockholders' equity also be classified as current or noncurrent?|||Neither. Current vs noncurrent is regarding assets and liabilities only. This is to show liquidity. If you take current assets less current liabilities to determine liquid positon. Obviously if you take your net assets (current and non) less liabiliites (current and non) this ties to equity position (stock plus retained earning) which is what the companys net postion would be if assets and liabilities are disposed of assuming book values.
Having a hard time understanding avalable balance VS current balance..?
i have a bbt checking account, with online banking.. My current balaance is higher than the avalable balance.. There are many transactions that haven't showed up on the actual statement.. So is that why the available balance is smaller? B/c the purchases have already been deducted, just not shown yet??|||Available balance doesn't include "pending" transactions.
Your actual balance would include the check you just deposited that has a 7 day hold. The available balance would not include that check.|||Your available balance is suspose to be what is left over after pending transactions is subtracted from your current balance!! If not, why is it less than the current balance? And what if your deposited check did show in the available balance that day?
|||You definately have the right idea, the difference between your current and available balance is that every time you use your check card and run it as "credit" the place of sale will put that amount on hold until they clear it out of your account. My personal opinion is that it's stupid they it's done this way, but that's what we have to deal with until things change. Like someone else mentioned, many gas stations will put just a dollar on hold until they take the actual amount out. My suggestion is even if you are using just your debit card keep track of your balance yourself and only go by what it says is available that way you don't overdraft.|||Available Balance= Money you can spend
Current Balance= Money in the account without pending payments deducted
Banks do this so you will not think that you have more money in your account even when there are payments pending against your account. This is really nice since it helps you not to overdraw your account.|||If things are pending that will happen. Also If you have recently put in an ATM deposit you will only be allowed to use a certain amount of the deposit until it clears. Once everything is cleared then your available balance and your balance will be the same.
Some check card purchases and ATM purchases will pend a different amount them what you spent ( for example Gas stations will sometimes pend 1 dollar)|||Probably the bank has a hold on checks waiting to clear.|||The actual balance is the real cash balance you have with the bank and the available balance is the balance that the bank will allow you to withdraw without closing your account.
Your actual balance would include the check you just deposited that has a 7 day hold. The available balance would not include that check.|||Your available balance is suspose to be what is left over after pending transactions is subtracted from your current balance!! If not, why is it less than the current balance? And what if your deposited check did show in the available balance that day?
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|||You definately have the right idea, the difference between your current and available balance is that every time you use your check card and run it as "credit" the place of sale will put that amount on hold until they clear it out of your account. My personal opinion is that it's stupid they it's done this way, but that's what we have to deal with until things change. Like someone else mentioned, many gas stations will put just a dollar on hold until they take the actual amount out. My suggestion is even if you are using just your debit card keep track of your balance yourself and only go by what it says is available that way you don't overdraft.|||Available Balance= Money you can spend
Current Balance= Money in the account without pending payments deducted
Banks do this so you will not think that you have more money in your account even when there are payments pending against your account. This is really nice since it helps you not to overdraw your account.|||If things are pending that will happen. Also If you have recently put in an ATM deposit you will only be allowed to use a certain amount of the deposit until it clears. Once everything is cleared then your available balance and your balance will be the same.
Some check card purchases and ATM purchases will pend a different amount them what you spent ( for example Gas stations will sometimes pend 1 dollar)|||Probably the bank has a hold on checks waiting to clear.|||The actual balance is the real cash balance you have with the bank and the available balance is the balance that the bank will allow you to withdraw without closing your account.
In the balance of payments, why does a Current Account Deficit imply a Surplus in the Capital and Finance Accs?
Quote
"Because the balance of payments always balances, a CAD necessarily implies a surplus on the capital and financial account. Therefore, a CAD paradoxically is a vote of confidence by offshore investors in local investment opportunities"
I don't understand why a CAD (Current Account Deficit) has to imply (by definition) a surplus in the Capital account, why does the money HAVE to come back in equally?
Can someone explain this please, thanks|||It is simply a way that words are used and their defined meaning. It's analagous to saying that if you as a person spend $100 and your income is $65 then you have a debt of $35. By definition your "debt" is equal to your spending minus your income. The balance of payments is just book-keeping of this kind for a country.
The second sentence is not necessarily true. Sometimes, sure, a country is attractive for real and/or financial investment, therefore foreign money comes in, therefore the exchange rate goes up, therefore the current account goes into deficit.
But in other situations a country through incompetence or greed gets a current account deficit, borrows the money to bridge the gap (possibly at high interest rates if banks, wisely, don't trust it to repay on time) and eventually its ability to borrow dries up. Then it has to go to an intergovernmental source of loans for a bailout and to take austerity measures to persuade even them to lend to it. This was the problem Greece ran into recently.
"Because the balance of payments always balances, a CAD necessarily implies a surplus on the capital and financial account. Therefore, a CAD paradoxically is a vote of confidence by offshore investors in local investment opportunities"
I don't understand why a CAD (Current Account Deficit) has to imply (by definition) a surplus in the Capital account, why does the money HAVE to come back in equally?
Can someone explain this please, thanks|||It is simply a way that words are used and their defined meaning. It's analagous to saying that if you as a person spend $100 and your income is $65 then you have a debt of $35. By definition your "debt" is equal to your spending minus your income. The balance of payments is just book-keeping of this kind for a country.
The second sentence is not necessarily true. Sometimes, sure, a country is attractive for real and/or financial investment, therefore foreign money comes in, therefore the exchange rate goes up, therefore the current account goes into deficit.
But in other situations a country through incompetence or greed gets a current account deficit, borrows the money to bridge the gap (possibly at high interest rates if banks, wisely, don't trust it to repay on time) and eventually its ability to borrow dries up. Then it has to go to an intergovernmental source of loans for a bailout and to take austerity measures to persuade even them to lend to it. This was the problem Greece ran into recently.
Available balance and current balance?
Say I have 0 available balance, but I have $300 in my current balance because I just deposited a check. Can I still buy stuff online at this moment in time with my debit card?|||No, you have to wait until the chq is cleared and your available balance says $300. Until then you have no money in your account that's available for spending!
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