Several Accounts from the Financial Records of Wynn Linders, Inc

question 145

Short Answer

Several accounts from the financial records of Wynn Linders, Inc. are listed. Indicate its normal balance and the debit/credit rules for increasing the account. (Choices may be used more than once.)
a.Debit
b.Credit
-Notes Payable

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Definitions:

Float

The time difference between when a check is written and when the funds are actually withdrawn from the account, or the number of shares available for trading of a particular stock.

Smart Card

A smart card is a plastic card embedded with a microprocessor chip, which can store and process data, used for various purposes such as financial transactions, identification, and access control.

Dividend Capture

An investment strategy aimed at buying stocks before the ex-dividend date and selling them shortly after, to collect dividend payouts.

Lockboxes

Banking service that speeds up collection of payments by having those payments mailed directly to a location accessible by the bank, reducing processing time.