no, they are an example of a liabilty
no
Notes Receivable are "not" classified as a liability at all, since they are receivable (meaning the company will receive them) they are classified as Long Term Assets. Accounts Receivable (Current Asset) Notes Receivable (Long Term Asset) Accounts "Payable" (Current Liability) Notes "Payable" (Long Term Liability)
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Accounts Payable and Notes Payable are liabilities. Accounts receivable - assets All "payable" accounts are "liabilities". This is because a liability is something the company OWES, a payable is the very same thing, hence the term "payable". Though some payable accounts change from being a payable to an expense, they are still liabilities as long as they are "payable", these include: Interest Payable (liability until paid, then reverts to Interest Expense) Salary or Wages Payable(liability until paid, then reverts to salary or wage expense) Payable accounts maintain a "credit" balance, meaning they increase with a Credit and Decrease with a debit. Now the quick answer: Payable = Liability Receivable = Asset
Dividend payable is the amount which is payable by the company to share holders so it is a liability of company and not an asset.
accounts payable is a liablity.
no
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
debit accounts payable 250credit notes payable 250
Debit accounts payableCredit notes payable
A mortgage is an asset to the mortgagee (lender).
A note payable is a tangible note between you and another company that you will pay them back for a good or service they sold you. An account Payable is an allocation base for all of your notes payable. so for example i could have a note payable to company A for $100, Company B for $500, and Company C for $300, and my accounts payable would be $900