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Q: Can the payables be written off after one year?
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Is bills payables a real account?

No, bills payables is not a real account but it is a personal account .My answer:Bills receivable is a real account. Bills receivable for one person is bills payble for another person. The same instrument cannot be Real for one person and personal for another. Hence, in my opinion Bills payable is also a real account.


A transaction that is likely to cause an increase in a current liability is?

The purchase of anything on CREDIT, as long as that account is to be paid off within 1 year (or one accounting period) A current liability is anything a company owes that is reasonably expected to be paid off within one year or one accounting period.


Is bonds payable a current liability?

Yes, Salaries Payable would be considered a Current Liability as the company will pay the amount off in less than one year (or one accounting period). Current Liability as any liability that will be... Yes, Current Liabilities are liabilities that will be paid off in one year or less. Accounts payable is where you record such liabilities. If it's a payment that will be made in more than one year.


Are bill payable is current liability?

Yes, bill Payable would be considered a Current Liability as the company will pay the amount off in less than one year (or one accounting period). Current Liability as any liability that will be...Yes, Current Liabilities are liabilities that will be paid off in one year or less. Accounts payable is where you record such liabilities. If it's a payment that will be made in more than one year..


Do you have to pay taxs on credit card write off?

When you have a bankruptcy, you will receive a 1099 for your credit card debt that is written off. Some companies will not send one but you will have to include the ones that do on your tax return.

Related questions

Is bills payables a real account?

No, bills payables is not a real account but it is a personal account .My answer:Bills receivable is a real account. Bills receivable for one person is bills payble for another person. The same instrument cannot be Real for one person and personal for another. Hence, in my opinion Bills payable is also a real account.


What has the author Michael Krahulik written?

Michael Krahulik has written: 'Year one'


My car was reposessed and bank sent me a letter saying that the loan was written off and now one year later why are they taking me to court?

Until you pay it off, they can come after you. Writing it off just declares it on their taxes as a bad debt, but you still owe it.


In what year did they make the nuclear bomb?

1946 off by one year, 1945


If a car loan has been written off but no one has picked up the car and you are a year behind can you make a payment to keep the car?

It has been 4 years on a can loan . Can the co-signer have to pay the bank? I was told that this was wriiten off.


What year was The One in the Middle is a Green Kangaroo written?

"The One in the Middle is a Green Kangaroo", by Judy Blume, was written in 1982.


If school meets for 10 months out of the year then what fraction of the year are students off?

ONE-SIXTH


Who wrote the book 'Discovery of India'?

This book was written by Jawaharlal Nehru in 1946, one year before independence.


What has the author A E Walker written?

A. E. Walker has written: 'A comparison of a cut-off street lighting installation with one approximating to the semi-cut-off type'


What has the author Murray M Andrew written?

Murray M. Andrew has written: 'One hundred year history'


Is take off one word?

No, but it is sometimes hyphenated. Take off is a phrasal verb and is always written as two words.


How do water evaporate?

by heat,humidity and temperature ( this is written by 9 year old in 2011 she will be older by one year )