answersLogoWhite

0

Is bills payble account is a real account?

User Avatar

Wiki User

2014-07-20 16:05:58

Best Answer

Bill payable is a personal account and only cash and bank accounts are real accounts in accounting.

User Avatar

Wiki User

2014-07-20 16:05:58
This answer is:
User Avatar
Study guides

What is the body of law that governs the availability and use of federal funds

Who has the final word on how much money can be spent by a given agency or program under the separation of powers doctrine

How do you spell commitments

Which stage of disbursement accounting is also known as the accounts payable stage

➡️
See all cards
3.89
62 Reviews

Add your answer:

Earn +20 pts
Q: Is bills payble account is a real account?
Write your answer...
Submit
Still have questions?
magnify glass
imp
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.


Definition of bills payable?

what is bills payble


Why would Accounts payable increase?

payment to account payble has increase


Is bills receivable real account?

Bills receivable is a real account. When acceptance is received, Bills receivable account is debited (debit what comes in). When the bill is discounted or returned to acceptor at the time of maturity, Bills receivable account is credited (credit what goes out).


What would be journal entry to accrue the expenses?

Expences head a/c To, expences payble account


What is the difference between account receivable and accounts payable confirmation?

account receivable- money coming in for profit account payble-money going out for a expense


Which best type of account for money you use to pay regular bills?

The best type of account for money you use to pay regular bills is a checking account.


Is capital account is real account or nominal account?

Real Account


Is debtor account a real account?

Yes, it is a real account


Is bank account is real account or personal account?

It is Personal Account and Cash A/c is actually real account.


Is Sales Account nominal or real account?

real accounts


What is the due date for professional tax payble in madhya pradesh?

15th day of the following month

People also asked