yes
Rent is the consideration payable for the use of tangible assets i.e. Building and machinery etc. Royalty is the consideration payable for the use of special right in a tangible or intangible asset.
Net Trading Assets = Accounts Recievable + Inventory - Accounts Payable
premium
holder
The correct answer is - an A/P liability.Accounts payable are liabilities (obligations) created by buying goods or services on account.
Typically, nominal accounts are closed on a periodic basis..iincome and expense are nominal accounts. Real accounts ...such as cash, accounts receivable, accounts payable are real accounts are not closed and are carried forward to subsequenr periods.
the amount payable for a share above its nominal value. Most shares are issued at a premium to their nominal value. Share premiums are credited to the company's share premium account.
"You may have the towel for a nominal fee of $15.00 payable at time of checkout. "
Notes Payable is used to show that it's a note. A note is determined by the signing of a Promissory Note or some similar contract. For example, when you purchase a vehicle (unless you are purchasing said vehicle with cash) you sign a contract (Promissory Note) in which you pay X amount by a certain day each month.
Look at your contract that should have this information in it.
Salary Payable, like other payable accounts are liabilities. It's something the company owes, therefor they are "liable" for that amount making it a liability. Once paid it is then an "expense"For example, you have $5,000 in salaries to pay, but you won't pay them until the following month, in accrual accounting we would do two entries for this transaction.Salary Expense (debit) $5,000Salaries Payable (credit) $5,000Because Salary Payable is a liability account it maintains a credit balance and is increased with a credit and decreased with a debit. Once the salaries are paid the adjusting entry would be:Salaries Payable (debit) $5,000Cash (credit) $5,000its nominal account & this Entry is salary a/c
Its part of the contract as both parties have an investment (interest) in the property
nope the check is a contract of payment for right now
In Georgia, the statute of limitations on unsecured loans is typically six years. This means that creditors have up to six years to file a lawsuit to collect the debt. After the six-year period has passed, the creditor may not be able to pursue legal action to collect the debt.
ETD payable = Employer Tax Deductions Payable
Accounts Payable releted to Creditors and Bills payable releted to bank.
An accounts payable is a "Liability" account. Payable being the "key" word, meaning something you have to "Pay" or "Owe". ALL payable accounts are liabilities no matter what they are for. Whether it is a bill payable, mortgage payable, note payable, wages payable, etc, they are all listed as a liability. Rahul