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ZBA Account!

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › ZBA Account!

  • This topic has 3 replies, 2 voices, and was last updated 11 years ago by John Moffat.
Viewing 4 posts - 1 through 4 (of 4 total)
  • Author
    Posts
  • September 4, 2014 at 6:56 am #193595
    Shams
    Member
    • Topics: 16
    • Replies: 17
    • ☆

    Dear Mr. Moffat:

    Can I have you comment on the below query? Thanks,

    I wonder if a Zero Balance Account can also be a depository account.

    September 4, 2014 at 10:44 am #193633
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54757
    • ☆☆☆☆☆

    All that can be meant by ‘zero balance account’ is an account with a zero balance at the end of the year. (There is no special account called ‘Zero Balance Account’).

    Any account could end up with a zero balance at the end of the year.

    If by ‘depository account’ you mean a deposit account (e.g. a deposit account at the bank), then yes – that could end up with a zero balance. It would simply mean that at the end of the year there was nothing left on deposit.

    September 4, 2014 at 11:02 am #193634
    Shams
    Member
    • Topics: 16
    • Replies: 17
    • ☆

    Thank you sir

    September 4, 2014 at 1:30 pm #193658
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54757
    • ☆☆☆☆☆

    You are welcome 🙂

  • Author
    Posts
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