Credits example sentences

However, the bank credits the customer account only when the amount of cheques are actually realised.All the credits given by the bank such as interest on dividends collected, etc.Commercial banks create this extra amount of money by giving out a part of their deposits as loans or investment credits.Banks extend loans to firms of all sizes and in many ways, like, cash credits, overdrafts, term loans, purchase/discounting of bills, and issue of letter of credit.According to American Institute of Public Accountants, balance sheet is “a tabular statement of summary of balances (debits and credits) carried forward after an actual and constructive closing of books of accounts and kept according to principles of accounting”.A transaction with one debit and one credit is a simple transaction and the accounting vouchers prepared for such transaction is known as Transaction oucher, the format of which is shown in figureure oucher which records a transaction that entails multiple debits/credits and one credit/debit is called compound voucher.There can be errors, which affect the equality of debits and credits, and there can be errors, which do not affect the equality of debits and credits.RBI is the independent authority for conducting monetary policy in the best interests of the economy – it increases or decreases the supply of high powered money in the economy and creates incentives or disincentives for the commercial banks to give loans or credits to investors.A trial balance is a statement showing the balances, or total of debits and credits, of all the accounts in the ledger with a view to verify the arithmatical accuracy of posting into the ledger accounts.It only ensures that all debits and the corresponding credits have been properly recorded in the ledger.As for the interest invalued, if it is not paid in cash, the drawer debits the drawee's account and credits the interest account, and the drawee debits the interest and credits the drawer's account in his books.On the left side, all cash transactions relating to cash receipts (debits) and on the right side all transactions relating to cash payments (credits) are entered date-wise.This practice provides a complete record of each transaction in one place and links the debits and credits for each transaction.It implies that if the sum of all debits equals the sum of all credits, it is presumed that the posting to the ledger in terms of debit and credit amounts is accurate.This error would give the two accounts incorrect balances but would not create unequal debits and credits.