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No it is a current liability
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∙ 10y ago
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Is interest payable a asset or liability?
liability
Payment of accounts payable increase or decrease current ratio?
It depends from which source accounts payable are clearing if it is from current asset then it will reduce the current ratio
Is dividends Payable an 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.
Is notes payable an asset or a liability?
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
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
Is interest payable a asset or liability?
liability
Payment of accounts payable increase or decrease current ratio?
It depends from which source accounts payable are clearing if it is from current asset then it will reduce the current ratio
Interest bearing note payable?
current assets
Is dividends Payable an 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.
Where does interest payable goes on the income statement?
Interest payable is that amount which is payable at future date and not paid in current year or period, income statement only shows expenses of current period that's why it is not shown in income statement rather it is shown under current liability of balance sheet.
Is notes payable an asset or a liability?
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
Is interest receivable a long term or short term asset?
Interest receivable is normally a current asset as interest are normally collected within one fiscal year.
What is the difference for account receivable and accounts payable?
When company make sales in credit it creates the accounts receivable while when company purchases on credit it creates the accounts payable so accounts receivable is current asset while accounts payable is current liability.
Is interest receivable considered an account receivable or other current asset?
It is considered a current asset as in it is not an account and should have a seperate t chart.
Is notes payable an asset?
no
Is bill payable an asset?
no
Is account payable asset or liability?
accounts payable is a liablity.
