Why would a cash account have a credit balance?

Answer A cash account would have a negative balance usually if checks were written in excess of cash on hand. However, a cash account having a negative balance is not proper accounting.Cash AccountA cash... Read More »

Top Q&A For: Why would a cash account have a credit balance

What is a credit balance in an account?

A credit balance refers to the amount of money that is in a personal or business bank account. This is the amount in the account after all charges and payments have been processed.References:Invest... Read More »

Can I close my credit card account with a balance?

You can close a credit card account to new purchases when you still have a balance, but you still need to pay down the balance every month. Your account will not be truly closed until after you pay... Read More »

How to Balance Cash on a Cash Register?

In order to keep an accurate record of profits, as well as to prevent employee theft and identify individual error, business owners and managers generally expect cash registers to be balanced at th... Read More »

Does my credit card balance increase with a balance transfer?

If the card you are transferring your balances to has a transfer fee, your balance on the new card will be higher than it was on the old card. Transfer fees should be considered alongside any poten... Read More »