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account payable is a current liability for item purchased on credit
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Accrued interest vs interest payable?
Interest payable is the interest that has not yet been paid to the customer on the deposit. Accrued interest is interest that is accumulated over a period ,especially from last payment made to the customer. The primary formula for calculating the interest accrued in a given period is: where, T = number of days in the period/number of days in the year
What affect would Accounts Receivable have on a business vs sales revenues?
It is fairly easy to "cook the books" by recording sales revenue offset by increasing Accounts Receivable. Eventually this is found out when the "customers" never pay their amounts "receivable".
How do you make entry if owner draws money from company?
If the owner intends to pay back the money: Dr. Accounts Receivable and Cr. Cash. If the owner does not intend to pay it back but the company owes the owner money: Dr. Loan/P to Owner and Cr. Cash If the owner does not intend to pay it back and the company does not owe the owner money: Dr. Retained Earnings and Cr. Cash This would either be considered a dividend or a distribution, depending on the structure of the company (corporation vs. partnership vs. LLC vs. sole proprietorship) Alternately, it could be treated as Net Pay. In that case, you would "gross-up" the amount charged to Salary Expense as a Debit and Credit Payroll Taxes Payable and Credit Cash for the amount taken.
Allowance for Bad Debts vs bad debt expense?
An allowance for bad debt is essentially a reduction in a bank's accounts receivable. The allowance for bad debt equals the amount of the banks loans that it does not expect to collect.
Diffeence between wholesaling banking Vs retail banking?
Wholesale banks offer services to large organizations including deposit accounts, loans, treasury management services, institutional trust services, merchant services, payroll, etc. They are usually much more complex banking relationships than retail banking relationships. Retail banks offer services to consumers and small businesses including checking and savings accounts, loans, mortgages, etc. Most commercial banks in the US offer both, but they are separate divisions of the bank.
Credit vs debit?
Debit is the left side of accounting statement and Credit is the right side of accounting statement. By debit we mean something comes inside the organization and by credit we mean, something goes outside the organization. That means debit means inflow and credit means outflow. For Example, we write Accounts Recieveable at, cash in hand, cash at bank, and assets at the left side of accounting statement as debit and write Accounts Payable, Bonds Payable, Bills Payable and other liabilities at the right side of accounting statement as credit. Hope answer the question
What is the score Bills vs Patriots today?
bills 9 patriots 11
What are the release dates for The NFL on NBC - 1965 Buffalo Bills vs- Detroit Lions?
The NFL on NBC - 1965 Buffalo Bills vs- Detroit Lions was released on: USA: 25 November 1976
What are the release dates for The NFL on NBC - 1965 Miami Dolphins vs- Buffalo Bills?
The NFL on NBC - 1965 Miami Dolphins vs- Buffalo Bills was released on: USA: 22 September 1974
What are the release dates for The NFL on NBC - 1965 Buffalo Bills vs. Boston Patriots?
The NFL on NBC - 1965 Buffalo Bills vs. Boston Patriots was released on: USA: 1 November 1970
What are the release dates for The NFL on NBC - 1965 Boston Patriots vs- Buffalo Bills?
The NFL on NBC - 1965 Boston Patriots vs- Buffalo Bills was released on: USA: 29 November 1970
What are the release dates for The NFL on NBC - 1965 Buffalo Bills vs- Tennessee Oilers?
The NFL on NBC - 1965 Buffalo Bills vs- Tennessee Oilers was released on: USA: 23 November 1997
Who played in the Super Bowl in 1992?
Washington Redskins (NFC) vs. Buffalo Bills (AFC).
Will the Chiefs at home cover the spread of -10 vs the bills on Sunday?
Yes
What are the release dates for The NFL on NBC - 1965 New York Jets vs- Buffalo Bills?
The NFL on NBC - 1965 New York Jets vs- Buffalo Bills was released on: USA: 7 September 1986
What are the release dates for The NFL on NBC - 1965 Buffalo Bills vs- Tampa Bay Buccaneers?
The NFL on NBC - 1965 Buffalo Bills vs- Tampa Bay Buccaneers was released on: USA: 26 September 1976
What are the release dates for The NFL on NBC - 1965 San Diego Chargers vs- Buffalo Bills?
The NFL on NBC - 1965 San Diego Chargers vs- Buffalo Bills was released on: USA: 8 September 1985
