ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -An account balance is the total amount of money available in a financial account after all the debits and credits have been calculated. It can also refer to the total amount of money that a person or organization is due to pay to a third party, such as a service provider.

Detailed explanation-2: -In banking, the account balance is the amount of money you have available in your checking or savings account. Your account balance is the net amount available to you after all deposits and credits have been balanced with any charges or debits.

Detailed explanation-3: -December 21, 2021. A ledger balance is the checking account balance at the beginning of a given day. Ledger balances are calculated at the end of each business day after all credits, withdrawals and interest from a given day’s activity have been factored in.

Detailed explanation-4: -An account balance is the amount of money present in a financial repository during the current accounting period. It is the net difference between the credits and debits posted in any given accounting cycle, added to the balance carried forward from the previous month.

Detailed explanation-5: -Your Total Balance is the total amount held in your account. Your Available Balance might be higher or lower than your Total Balance, as it accounts for pending transactions in your bank accounts that have not yet cleared.