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Yes, payables are those that are not yet payed or plainly, a liability. ;3
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∙ 11y ago
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What is a credit balance item on a balance sheet?
Liability payables or provissions made.
How do you account for goods received and invoice received?
Goods Received: Debit Stock Credit Goods Received Invoice Received: Debit Goods Received Credit Trade Payables Result: Debit Stock (Asset) Credit Trade Payables (Liability)
Is accounts payables a part of an asset or a liability?
When company purchases supplies from vendors they are require to pay them at the same time but instead of paying them out immediately they got the time to pay in future so it is the liability of the company to pay them that;s why accounts payable is liability and not the asset.
Stock subscription payables is debt?
stock subscription payables is debt ?
Is accounts payable helps the business?
The syntax of the question is flawed and therefore unanswerable as stated. However, if you meant 'are accounts payable an asset to the company or a liability?' -the answer is that payables represent what you owe to somebody and are therefore a minus(liability) to overall net worth of the business.
On a balance sheet the accounts of accounts payable salaries payable and mortgage notes payable would fall under the category of?
Accounts payables and salaries payable are part of current liability in balance sheet while current portion of mortgage notes payable is part ot current liability and remaining portion is part of long term liability.
What is the difference between office supplies account and office supplies expense account?
Office supplies acct is an account that you book as payables and a offfice supplies expense account is a Liability Account on your Chart of accounts
What are the accounts payableS on the trial balance?
Accounts payable is a short-term liability representing cash owed to vendors. When a company is invoiced by a vendor, accounts payable is increased. When payment is rendered, the accounts payable balance decreases.
What is the abbreviation of Accounts Payables?
AP
Is credit sales in account payables?
no
Suta tax payable increases on the debit side of the account True or false?
False, any "payable" regardless of the type will increase the liabilities which has a Credit Balance. Payables are what the company owes but has not yet paid and are considered a liability until they are paid thus increasing liabilities with an increase to the credit side of the balance sheet.There for Suta Tax Payable would be a liability which increase with credit and decrease with debit.
What is a deferred taxes payables?
The taxes which is owed by a corporation in the goverment authority.
